The European Central Bank warns that large-scale redemption of stablecoins may trigger bank runs

The European Central Bank pointed out that the large-scale redemption of stable currency may lead to bank runs, and mentioned that 94% of Argentina's cryptocurrency purchases use stable currency. Türkiye has 38 billion US dollars of Türkiye lira converted into stable currency within a year. MELD said that most enterprises using its services will immediately convert their funds back into French francs after settlement. (Source: Cointelegraph)