🚨 Standard Chartered warns stablecoins could drain $1T from emerging market banks in 3 years. But what if that’s not a crisis, but the start of a new financial era? @domschwenter (@LiskHQ @LiskAfrica) and @robdogeth (@Corkprotocol) explain how this shift could reshape global money

1/ The $1T Fear Standard Chartered warns of huge deposit outflows from EM banks as savers move to digital dollars. But not everyone agrees this means collapse, some say it’s the start of a structural shift in global money.

2/ The Rise of Local Stablecoins @domschwenter says the bank’s view misses what’s really happening. “The more meaningful shift now underway is the rapid rise and adoption of local currency stablecoins.” 🇳🇬 cNGN, 🇮🇩 IDRX, 🇮🇳 rupee-backed coins show EMs are building their own rails.

3/ Banks Won’t Disappear, They’ll Adapt Stablecoins may cut dependence on banks, but they won’t erase them. “Most people remain uncomfortable with full self-custody and prefer to entrust their funds to a reliable third party,” says @domschwenter.

4/ A Second Bretton Woods? @robdogeth of @Corkprotocol sees a deeper transformation. “The GENIUS Act and proliferation of stablecoins act like a second Bretton Woods… all commerce and transactions can be seamlessly settled using dollar rails.” Digital dollars redefining global trade.