FEDS Note: Banks in the Age of Stablecoins: Lessons from Their Historical Responses to Financial Innovations
Sam Hempel, JP Perez-Sangimino, and Jessie Jiaxu WangThe expansion of stablecoins has moved digital payment tokens from the periphery of financial markets to the center of policy discussions. With a global market capitalization in the mid-hundreds of billions…
May 01, 2026 Banks in the Age of Stablecoins: Lessons from Their Historical Responses to Financial Innovations Sam Hempel, JP Perez-Sangimino, and Jessie Jiaxu Wang1 1. Introduction The expansion… [+33046 chars]