The large banks concerned with yield-generating stablecoins must grow up | Opinion
[ Ajiz Banda ] Today, large banks are threatened by stablecoins that yield. These cryptocurrencies provide individuals with the ability to receive decent returns on their deposits without the involvement of a conventional bank. However, large financial institutions have become uncomfortable in anticipation that individuals will abandon their previous systems.
The truth is, both technology and finance are changing, and stablecoins are the outcome of that change. Banks should not consider these developments their enemies, but make their systems modern and welcome competition. Every new technology meets resistance initially, but smart players make it work for them.
If the large banks fail to keep pace with the times, humanity will abandon them and gravitate towards decentralized and open financial systems. What is in vogue today is — "Grow up, or get out of the market."
