Stripe CEO on Stablecoins vs Banks

[bonk]

Patrick Collison, CEO of Stripe, says yield-bearing stablecoins will force banks to pay market-level returns on deposits to stay competitive.

US savings accounts average just 0.4%, EU accounts 0.25% — Collison calls this “consumer-hostile.” He adds: stablecoins may reshape how people hold and earn on money.

[JanEmil]

Lets do it. But where does the yield come from?

[EmTeam]

Interesting perspective from Stripe’s CEO. Traditional banks really need to step up their game now.

[jacson4]

Stablecoins offer the efficiency banks never achieved. Stripe acknowledging that says a lot about the shift.