Bitwise Investment Director: Banks should raise deposit rates to respond to stablecoin competition
ChainCatcher news, according to Cointelegraph, Bitwise's investment chief Matthew Hougan urged banks to raise deposit rates to respond to stablecoin competition, criticizing banks for long treating depositors as a source of free capital. Currently, stablecoins offer yields of up to 5%, far exceeding the U.S. average savings rate of 0.6%.
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