PAYMENTS HOTGLOBAL INTELLIGENCE
Glenbrook Payments NewsA BIS working paper by Rashad Ahmed and Iñaki Aldasoro studies weekly US data from January 2019 to June 2025. The authors find that higher deposit rates predict slower reserve-backed stablecoin growth, with a stronger relationship for USDC than USDT.
The original report did not disclose material figures that change this decision brief.
Watch whether follow-up sources disclose whether the metric persists, the cross-border segment mix, margins, and management guidance. Also confirm the regulatory setup for the stablecoin, custody, and fiat on/off ramps.
are-stablecoins-and-bank-deposits-substitutes-b0208dacThe page already presents the summary and analysis. This section keeps only the copy, download, and technical source record without repeating the same reading view.
# Are stablecoins and bank deposits substitutes? > Evidence tier: B2 > Evidence type: BIS working paper authors research on official BIS site, discovered via Glenbrook > Source: [Glenbrook Payments News](https://www.bis.org/publications/working-paper-1382-are-stablecoins-and-bank-deposits-substitutes) > Published: 2026-10-13 > Captured: 2026-10-16T12:28:56.183Z ## Source summary A BIS working paper by Rashad Ahmed and Iñaki Aldasoro studies weekly US data from January 2019 to June 2025. The authors find that higher deposit rates predict slower reserve-backed stablecoin growth, with a stronger relationship for USDC than USDT. ## Why it matters This is the authors’ research, not necessarily BIS policy or a new payment-product launch. The study concerns asset allocation and does not establish that stablecoin growth necessarily reduces aggregate bank deposits or lending. ## Key numbers No independently checkable key number was extracted from this report. ## Topics and entities - Industry lane: Web3 & stablecoin payments - Entities: BIS working paper authors - Web3 payments ## Evidence and credibility note Use as a curated discovery layer; link to the underlying source whenever available. Automatically extracted metadata and material claims should be checked against the linked original before investment use. Date evidence: Automatically verified from article:published_time: 2026-10-13T14:00:00+0200 ## First-party corroboration No directly corresponding A1 company announcement is currently linked. ## Original-source traceback [Open the original Glenbrook Payments News report](https://www.bis.org/publications/working-paper-1382-are-stablecoins-and-bank-deposits-substitutes) --- This is a structured Payments Hot Markdown source summary derived from external reporting. Use the original link above to read the publisher's article; copyright remains with the original publisher.