Central banks have warned that market volatility triggered by tariffs could lead to runs on stablecoins, which could trigger a concentrated sell-off of US Treasuries. The rapid expansion of stablecoins has posed a systemic risk, with large-scale redemptions threatening global financial stability.
Faryar Shirzad, head of policy at Coinbase, said "full reserve collateral makes stablecoins safer than banking" and that "their wider adoption would actually enhance stability".
He further explained: "Banks make long-term and often high-risk loans to individuals and businesses, which exposes them to both credit and liquidity risk. In contrast, stablecoin issuers typically hold short-term government bonds, which are virtually risk-free and highly liquid assets."
Coinbase policy chief: Full reserve backing makes stablecoins safer than the banking system
2025-11-23 18:41:12
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