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Article
Stablecoins challenge bank funding and payments landscape
Stablecoins are evolving from crypto trading tools into broader financial infrastructure, forcing treasury and ALM leaders to reassess funding stability, payment systems, and liquidity management. Alex Smolovich of BBVA argues that while stablecoins may not yet threaten the financial system, their growth could reshape competition for deposits and accelerate modernization of banking payment rails.
Mar 13, 2026
Alex Smolovich, Executive Director - U.S. Head of Bank Advisory, BBVA
Tags:
ALM, Treasury and Liquidity Risk
The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization
- Stablecoins evolving
from crypto trading tools into broader financial infrastructure
- Fiat backed
stablecoins providing liquidity and capital preservation for digital asset
markets
- Stablecoin reserves
creating additional demand for U.S. Treasury securities
- Concentration risk
considered smaller than that posed by government money market funds
- 24 hour stablecoin
networks challenging traditional banking payment infrastructure
- Banks may need major
technology investments to remain competitive
- Regulatory
uncertainty remains around stablecoin legislation and policy priorities
- Debate intensifying
over whether stablecoins should pay interest to holders
- Interest bearing
models could draw deposits away from traditional banks
- Stablecoins expected
to accelerate modernization of global payment systems
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