BitGo executive: Traditional banks accelerate their layout in the stablecoin market, worried about losing market share

ChainCatcher news, according to CoinDesk, BitGo's stablecoin business head Ben Reynolds stated at the Consensus 2025 conference in Toronto that traditional banks are accelerating their layout in the stablecoin market, mainly concerned about cryptocurrency-native institutions capturing market share. BitGo's "stablecoin as a service" has attracted the attention of several banks, which are considering tokenizing deposits or issuing their own stablecoins.

Data shows that the current global stablecoin market size has reached $230 billion, with yield-bearing stablecoins still accounting for a small proportion. BlackRock analysts pointed out that stablecoins with yield functions can enhance the liquidity efficiency of institutional funds, particularly suitable for scenarios such as DAOs and market makers. It is noteworthy that regulatory differences have become a key factor—tokenized securities are subject to securities laws, while stablecoins are governed by different regulatory frameworks.

Officials from Wyoming's Stable Token Committee emphasized that such products can broaden financial access for underserved populations by banks. As the U.S. stablecoin regulatory framework gradually becomes clearer, traditional financial institutions are accelerating their entry to maintain market competitiveness.