FDIC warns payment stablecoins could alter banking consolidation

Federal Deposit Insurance Corporation signaled an acquisition thesis in regulatory statement on October 20, 2022.

Primary

Federal Deposit Insurance Corporation

Structure

regulatory statement

Date

October 20, 2022

Sub-sector

Crypto / Stablecoin

FDIC Chair articulates systemic risk thesis on payment stablecoins driving banking consolidation and disintermediation via economies of scale and network effects.

Primary company

Federal Deposit Insurance Corporation

Counterparty

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Amount

—

Event date

October 20, 2022

Sub-sector

Crypto / Stablecoin

HQ

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Structure

regulatory statement

Source published

October 20, 2022

Publisher

American Banker

Source: americanbanker.com