Banking Industry Likely to Capitalize on Stablecoin Deposit Demand, Says Morgan Stanley

Banking Industry Likely to Capitalize on Stablecoin Deposit Demand, Says Morgan Stanley
The banking industry will most likely try and capitalize on the demand for stablecoin deposits on the back of the market’s exponential growth, Morgan Stanley’s lead cryptocurrency strategist, Sheena Shah, said in a report.Some notable features of these coins is that they provide access to crypto-deposit interest rates and decentralized finance (DeFi). Crypto lenders offer over 5% interest on some of these coins, which in turn will cause regulators and governments to respond, Morgan Stanley said.Stimulus from governments and central banks have led to risky assets reaching all time highs and cryptocurrencies are no different, Shah said. Cryptocurrencies are trading…