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Stablecoins may exert pressure on U.S. banks, according to a Moody’s analyst., 2026/04/20 12:53:54
While the impact of stablecoins on US banks currently remains limited, their increasing market presence could intensify competition and exert pressure on the sector, stated Abhi Srivastava, Deputy Vice President of the Digital Economy Group at Moody’s Investors Service.
He noted that despite the active growth of this segment, the risks to the banking system in the near term are moderate. Existing payment systems in the US already provide fast, affordable, and reliable transactions, which hinders the widespread adoption of stablecoins domestically.
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“At this stage, the risk of disruptions for the banking sector appears to be limited. In the near future, US regulations prohibiting dividend payments on stablecoins suggest that they are unlikely to significantly replace traditional deposits within the country,” he emphasized.
Simultaneously, the analyst pointed out long-term risks. As the market capitalization of stablecoins increases and tokenized real-world assets (RWAs) develop, banks may face heightened competition, deposit outflows, and a decline in creditworthiness.
Srivastava added that the role of stablecoins in payments, cross-border transactions, and online finance is gradually expanding, even though their current usage is still limited.
Previously, analysts from Chainalysis indicated that by 2035, the volume of transactions in stablecoins could exceed $719 trillion.
