Coinbase Policy Chief: Stablecoins Boost Dollar Globalization and Reshape Payment Future

The True Potential of Stablecoins

Coinbase’s policy leader recently responded to the debate over stablecoins’ impact on banking. He pointed out that some reports overstate the risk to bank deposits, ignoring the actual development path of stablecoins.

The Truth Behind the Numbers

• The claim that $6.6 trillion in bank deposits is at risk is misleading—it actually represents total transaction account deposits, not potential outflows.
• According to TBAC’s forecast, stablecoin circulation is expected to reach only $2 trillion by 2030, far below the exaggerated figures.

Future Trends in Stablecoins

Historically, bank deposits have been highly stable. Customers rarely move money solely for better returns, even within traditional finance. Furthermore, the majority of stablecoins are currently held overseas, and future demand is likely to come from international markets.

The Value of Stablecoins

Stablecoins are not a threat to banks but a powerful tool for expanding the dollar’s global role. They help improve payment efficiency, empower consumers, and drive innovation in the financial system.