💡 Traditional Banks Join the Stablecoin Game? 🤔
When traditional banks like Standard Chartered, Societe Generale, and Revolut started looking at stablecoins, it was clear that the traditional financial world did not want to be left behind in the digital trend. 🚀
However, this move has its pros and cons:
❓ Pros:
Regulations like MiCA in the European Union provide a strong legal basis.
Visa paves the way with a tokenized network, facilitating global adoption.
💥 Cons from the Crypto World:
Can it not be free from centralization? Stablecoins issued by large banks have the potential to repeat the problems of the old banking system: unilateral control, hidden fees, and the risk of excessive supervision.
Competition or Colonization? Their presence may not be to innovate, but instead to narrow the space for original crypto that stands on the principle of decentralization.
Is this a step forward or a threat to the original vision of crypto? Share your opinion here! 👇