America’s largest banks are building a new digital currency network to stop a massive deposit drain
Major US banks are developing a new digital currency network based on tokenized deposits, aiming to counter the ongoing shift of funds into stablecoins. This initiative signals a concerted effort by traditional finance to establish a competitive presence in the burgeoning blockchain-based cash ecosystem.
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↓ SHORT-10% target+5% stop3-6 months
Short stablecoin issuers like Tether (USDT) and Circle (USDC) as traditional banks' tokenized deposit network poses a credible threat to their market share.