TechFlow news, January 13 — According to Cointelegraph, Omid Malekan, an adjunct professor at Columbia Business School, recently stated that U.S. banks' concerns over stablecoin yields are nothing more than a "baseless myth" designed to protect their own interests. He argued that stablecoin growth could actually increase bank deposits, as most demand originates overseas. Malekan debunked five major misconceptions held by the banking industry, emphasizing that competition from stablecoins would only affect bank profits, not lending activities, and that banks could easily compete by offering higher deposit rates. He urged Congress to prioritize innovation and consumer interests in related legislation, rather than protecting highly profitable large banks.
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