According to BlockBeats, on July 26, the Swiss Financial Market Supervisory Authority (FINMA) issued guidance stating that stablecoin issuers would bring risks to partner banks.

These issuers take deposits from the public and should be considered banks, but avoid banking license requirements through agreements with registered lenders.

FINMA said stablecoin holders and banks that provide default guarantees are at risk, and banks may suffer reputational and legal risks due to contractual relationships.