『Stablecoin Threats to Banking』のカバーアート

Stablecoin Threats to Banking

Stablecoin Threats to Banking

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Dr. Lamont Black explains how stablecoins could cost banks and credit unions interchange, data and deposits. This Flashback Friday revisits one of our most popular interviews, recorded in January 2026 with Dr. Lamont Black, a former Federal Reserve economist and finance professor at DePaul University. Dr. Black placed the shift in 2027, once the GENIUS Act takes effect. Since then, the OCC finalized its stablecoin rule on October 21, 2026, and the Act takes effect January 18, 2027. Other regulatory work remains, but banks and credit unions now have a date to prepare for. Dr. Black says interchange loss could reach 5, 10 or 20% in 2027, starting slowly and then building quickly like Apple Pay and Samsung Pay. Merchants like Amazon could accept a stablecoin for about 1% when a card costs closer to 3%, and he suggests checking how much interchange your institution collects on Amazon Prime Day, which he calls material for many institutions. The risk extends to transaction data and to deposits, as customers sweep spending money from checking accounts into stablecoin balances. He also discusses where to start. Dr. Black explains why a wallet that works with existing stablecoins like USDC is a better first experiment than issuing your own coin, which he does not necessarily recommend for most smaller institutions. He recommends education at the board and executive level, then an internal working group across payments, deposits and IT, and argues that small is nimble because you do not have to be big to play in this space. Hosted by Jim Marous. Subscribe to Banking Transformed for new episodes multiple times each week.
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