Bank of America Merrill Lynch: Stablecoins will have a disruptive impact on traditional bank deposits and payment systems

Planet Daily News: A latest research report from Bank of America Merrill Lynch shows that as the United States paves the regulatory path for stablecoin issuance, this digital asset will cause a clear disruptive impact on traditional banks' deposit base and payment systems within the next 2 to 3 years. The report emphasizes that the real transformation will emerge in the medium term. As stablecoins become integrated and popularized, their impact on the existing financial system will become increasingly apparent, at which point banks will face competitive pressure from digital currencies. With the preliminary establishment of the U.S. stablecoin regulatory framework, the banking industry is at a crossroads of active layout and cautious observation. The U.S. banking industry is ready to welcome the stablecoin era. From comments by management of major banks, the industry is actively preparing to provide stablecoin solutions. However, regarding their specific use cases, especially in domestic U.S. payment scenarios, bankers remain cautious and even skeptical. (Phoenix Network)