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
Blackstone (BX.US) injects up to $1.5 billion, providing fresh ammunition for Pfizer (PFE.US) in the weight-loss drug race
Pfizer announced on Wednesday that it has reached an agreement with Blackstone to obtain up to $1.5 billions in funding to support the development of its experimental monthly obesity treatment drug.
Bernstein Downgrades Nvidia Rating and Target Price
Google (GOOGL.US) DeepMind launches AlphaGenome 2: Capable of decoding DNA cells with nearly double the mutation identification capacity
Google DeepMind has released its AI model AlphaGenome 2, which is trained on maps of over 100 millions of cells and has nearly double the ability of its predecessor in identifying gene expression variations.
The White House did not intervene in the decision-making of Nvidia's board of directors.
Crypto prices
More
