The banking industry is looking to try and capitalize on the demand for stablecoin deposits on the basis of the market’s exponential growth.
BTCUSD up +4.54%
Some notable characteristics of these coins are that they offer access to crypto-deposit interest rates and decentralized finance (DeFi).
Crypto lenders provide more than 5% interest on some of the coins that will push regulators and governments to respond.
Morgan Stanley’s lead cryptocurrency strategist, Sheena Shah stated that stimulus from governments and central banks have pushed the risky assets to reach record-highs and cryptos are no different. Cryptocurrencies are trading the same as risky assets with support from the leveraged growth in their markets.
As more institutions are deciding on crypto, bitcoin units will end up in the holding of fewer participants that will result in centralization.