RE: LeoThread 2026-01-27 00-22

Standard Chartered Bank: Stablecoins Pose a Material Threat to Bank Deposits

Standard Chartered Analyst Flags Stablecoin Risk to Global, U.S. Bank Deposits** Global Head of Digital Asset Research Geoff Kendrick at Standard Chartered said in a report Friday (Jan 27) that stablecoins present a real risk to global and U.S. bank deposits. Kendrick noted the delay of the U.S. CLARITY Act underscores stablecoins’ threat to banks. He estimates U.S. bank deposits will shrink as stablecoin market cap grows, with the decline representing a percentage of stablecoin market value. U.S. regional banks are poised to bear the brunt of the impact, while investment banks will see the least effect, per the report. Notably, the report found only 0.02% of Tether’s reserves and 14.5% of Circle’s reserves are held in bank deposits, indicating an extremely low rehypothecation ratio.