Fed: Banks in the Age of Stablecoins - Lessons From Their Historical Responses to Financial Innovations
May 02, 2026
May 02, 2026
WASHINGTON, May 2 -- The Federal Reserve issued the following Fed Notes article:
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Banks in the Age of Stablecoins: Lessons from Their Historical Responses to Financial Innovations
Sam Hempel, JP Perez-Sangimino, and Jessie Jiaxu Wang/1
1. Introduction
The expansion of stablecoins has moved digital payment tokens from the periphery of financial markets to the center of policy discussions. With a global market capitalization in . . .
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Banks in the Age of Stablecoins: Lessons from Their Historical Responses to Financial Innovations
Sam Hempel, JP Perez-Sangimino, and Jessie Jiaxu Wang/1
1. Introduction
The expansion of stablecoins has moved digital payment tokens from the periphery of financial markets to the center of policy discussions. With a global market capitalization in . . .