Stablecoin Growth Pressures Banks as Deposit Outflows and Fee Income Risks Rise

In Seoul, Yonhap News reporter Lee Do-heun reported that an analysis found the growth of stablecoins could weigh on the earnings structure of South Korean banks. According to the report, the key issue is that stablecoins may affect areas traditionally served by bank deposits as well as payment and remittance services. As a result, concerns are being raised in the banking sector over possible deposit outflows and reduced fee income. The report suggests that as the stablecoin market expands, banks may need to review the foundations of their traditional revenue structure. Source: yna.co.kr