Bank of America Merrill Lynch: Stablecoins will have a disruptive impact on traditional bank deposits and payment systems

ChainCatcher news, a recent research report from Bank of America Merrill Lynch shows that as the regulatory framework for stablecoins in the United States gradually takes shape, stablecoins are expected to have a disruptive impact on traditional bank deposits and payment systems in the next 2-3 years. The U.S. President has signed the GENIUS Act, establishing an initial framework for stablecoin regulation.

In the short term, the stablecoin market is expected to grow by $25-75 billion, which will boost demand for U.S. short-term government bonds. Although major banks are cautious about domestic payment applications, they generally believe that cross-border payments are a viable scenario and have begun to lay out related businesses, including JPMorgan's deposit tokens and BNY Mellon's custody services.