Citi: Stablecoins May Drive the Next Growth Phase of Cryptocurrency
ChainCatcher news, according to CoinDesk, Citibank has released a report indicating that stablecoins may drive the next growth phase of cryptocurrencies.
The bank's analysts compared stablecoins to the rise of money market funds in the 1980s, noting that the main driving force behind stablecoin adoption lies in their role as a "store of value" in emerging markets facing inflation or weak institutions. This could further stimulate demand for dollar assets, but may also trigger policy responses aimed at limiting dollarization.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
A smart money address has taken a 3x long position on ETH, with holdings valued at approximately $89 million.
A certain smart money address has tripled down on ETH, with a position worth approximately $89 million.
Pundi AI partners with LinqAI: Driving innovation in decentralized AI from data to computing power
Trending news
MoreCrypto prices
More
