Stablecoins: The Galactic Threat to Eurozone Couches (Spoiler: It’s Not the Ones You Think)

According to the ECB, when folks swap euros for stablecoins, banks lose access to cheap, reliable funding-retail deposits-as predictably as a Vogon poetry reading loses an audience. Banks are now forced to rely on pricier wholesale funding, which comes with interest rates as volatile as a drunken supernova.








