The Weekly Peg (2/2): Yield wars
All the better to lure your savings with.
Yield wars:
— Stablecoins must offer yield to compete: former Standard Chartered Tokenization Head says (via Decrypt).
Key graf: “Banks have pressed Congress to close the door completely. In an August 12 letter, the Bank Policy Institute and four other major trade groups warned lawmakers that leaving the so-called loophole intact could drain as much as $6.6 trillion from the U.S. deposit system.
