Stablecoins and Central Bank Digital Currencies Could Cost Banks $230 Billion

Stablecoins, central bank digital currencies, and tokenized payment instruments could reduce banks' revenues by $230 billion if they do not start developing their own blockchain payment solutions, according to a study by Capgemini. By 2030, blockchain payments are expected to account for 4% of the global payment market. This will put pressure on traditional sources of bank income, such as currency pair spreads and transaction fees. Currently, about $4 trillion from large companies is held in bank accounts for international transactions. Capgemini surveyed 1,110 companies with annual revenues of over $1 billion, and 60% of respondents are willing to switch to blockchain payments if banks do not offer a comparable level of service. However, only 21% of the 300 surveyed banking representatives are actively developing blockchain payment tools. Many bankers consider the direction of deposit tokenization more important in order to keep customer funds within the banking system.

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