Delphi Digital: Stablecoins May Impact Bank Interest Margin Models, Deposit Outflow Risks Draw Attention

Odaily News Delphi Digital published an article stating that, compared to national security-level controversies, the potential impact of stablecoins on the traditional banking profit model is more direct. Currently, the yield on U.S. Treasury bonds is approximately 3.89%, while the interest rate on ordinary savings accounts is about 0.39%. Banks earn profits through the interest margin on deposits.

It pointed out that stablecoins are also backed by assets such as Treasury bonds, and issuers are exploring mechanisms to distribute returns to holders. If this model is adopted on a large scale, it could prompt funds to flow from the traditional banking system to stablecoins, thereby weakening banks' ability to obtain low-cost funds and provide credit.