Banks vs. Stablecoins: $500B Drama or Just a Cash Migration Holiday?

According to Geoffrey Kendrick, the bank’s head of digital asset research (fancy title, much?), the real issue is that payments and other banking activities are going all “on-chain”. Because who needs traditional banks when you can have blockchain, right? Kendrick also predicts stablecoins could hoover up $1 trillion from emerging markets in the same timeframe. That’s a lot of zeros, folks. The overall stablecoin market? Oh, just $2 trillion by 2028. Casual.