If stablecoins are banks, what’s a bank?

ft.com/content/60e2b083-e78e-42e0-b8d6-66caced2f7b5

If stablecoins are banks, what’s a bank?
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
A stablecoin is a stablecoin, much like a cigar can be just a cigar. But which non-crypto thing does it most closely resemble? A bank deposit? A money-market…

This story appeared on ft.com, 2025-05-29 03:45:44.182000.
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