by: xpoolPosted on:

Stablecoins Drive Banks to Offer Higher Yields, Stripe CEO Says

Banks will be forced to raise interest rates on savings accounts as stablecoin competition grows, according to Patrick Collison, CEO of Stripe. Collison highlights that the average US savings account rate is a meager 0.40% and 0.25% in Europe, pointing out that depositors are entitled to higher returns closer to market rates. He believes this shift is driven by the need for competitive advantage and a move away from consumer-hostile banking practices.

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