Bank of England official Greene says demand for stablecoins may soon fade

Stablecoins are a type of crypto asset designed to maintain price stability and have been gaining popularity in recent years. Although their issuance has leveled off in recent months, some industry insiders still expect demand to continue rising. Green stated at a conference in Dubrovnik, Croatia: “I believe tokenized deposits are highly likely to replace stablecoins. Five years from now, we might wonder why we were even discussing stablecoins.” She believes that central bank digital currencies, stablecoins, and digital deposits each have their own market. However, once commercial banks realize they are losing traditional deposits, tokenized deposits will ultimately become the mainstream choice.