BIS Quantitative Paper Finds Banks Can Slow Stablecoin Adoption Just by Raising Deposit Rates
Photo: Pixabay (illustration)
The industry has spent the year cataloging the supply-side buildout with predictable enthusiasm. We have watched Visa Direct move stablecoin-powered cross-border payments into commercial production, while Mastercard has wired its Global Money Platform into 130 countries. The metrics are functional enough, with stablecoin payment volume exceeding $400 billion in the first eight months of 2026. Yet, this infrastructure-first narrative, while technically accurate, tends to obscure a persistent, structural ceiling on the demand side: the humble bank deposit rate, which remains a stubborn gravitational force for capital.
Source: Forkast
