A new Standard Chartered report underlines the significant growth potential for stable parts backed by the US dollar, predicting that this trend could lead to a transfer of up to $ 1,000 billion in the banks of emerging economies in the coming years.
This so-called “boom”, fueled by a new the dawn of regulations For the wider market for digital assets in the United States under the administration of President Donald Trump, this makes stable parts more and more attractive, especially in regions vulnerable to monetary crises.
Stablecoins while savings could reach 1.2 dollars
Currently, nearly 99 % of stable parts are attached to the US dollar, which effectively transforms them into bank accounts made into dollars. This characteristic is particularly attractive for individuals and companies in countries where economic instability has historically led to major savings losses.
According to According to Standard Charted, the desire to protect capital in a context of global economic uncertainty will encourage many people to favor stable portfolios compared to traditional banking institutions.
In a report published this week, the bank noted: “We see the possibility that $ 1,000 billion leave the banks of emerging markets and turn to stable parts in the next three years. »»
This change reflects a trend that individuals give priority to preserving their capital rather than the yield potential, which is summarized in the sentence: “The return of capital counts more than the return on capital”.
Despite the new American regulations Designed to curb this deposit leak-by preventing stable parts issuers in accordance with the United States from providing direct yields similar to banking interests-Standard Charterd claims that the attraction of stable parts will persist in emerging markets.
The bank provides that the use of stable parts as a savings mechanism in these regions could grow considerably, going from around $ 173 billion today to an amount estimated at 1.22 Billion of dollars by the end of 2028.
Potential impact on traditional banks
Although this projected figure is significant, analysts emphasize that it would still represent only about 2 % of the total. Total bank deposits In 16 countries deemed “high risk” of capital flight.
These countries include Egypt, Pakistan, Bangladesh and Sri Lanka, which have all recently experienced monetary devaluations, as well as Kenya, Morocco and other emerging economies such as Turkey, India, China, Brazil and South Africa.
The report underlines that many of these countries, with the notable exception of China, suffer from a double deficit which makes them particularly vulnerable to aversion to global risk and sudden Depreciation of money.
Thus, the growing migration of deposits to stable parts could pose serious challenges to the stability of traditional banking systems in these regions.
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