A New York Federal Reserve study found that dollar stablecoins are more likely to flow into wallets linked to countries experiencing currency or banking crises. Researchers discovered that wallets in crisis-affected countries were 1.8% more likely to receive dollar stablecoins during the week a crisis began. The stablecoin market has grown beyond $300 billion and is expected to reach trillions of dollars by the end of the decade. This expansion provides households with dollar access outside traditional banking channels, potentially weakening governments’ ability to enforce capital controls during periods of financial stress.
Source: Read the original article
