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渣打银行:稳定币或致 1.5 万亿美元流出传统银行体系

2026-01-28 10:53:32

ChainCatcher 消息,渣打银行分析师 Geoffrey Kendrick 警告,到 2028 年底,约 5000 亿美元将从美国发达市场银行流出,另有 1万亿美元从新兴市场银行流出,主因稳定币即时结算、全天候运作且收益率优于传统储蓄账户。

报告指出四大风险:一、净息差收入(NIM)受冲击,美国区域银行最脆弱,NIM 占总收入达 80% ; 二、稳定币发行商 Tether 和 Circle 仅 0.02% 和 14.5% 储备金存放银行,其余投入美债和货币市场基金,几乎全部资金流出银行体系 ; 三、超 95 %稳定币以美元计价,美国银行首当其冲 ; 四、银行需以更高成本向机构投资者借款替代零售存款。Kendrick 称稳定币是首个基于区块链的金融市场重大颠复者。

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