Under the baseline statistical model in an October 13, 2026 Bank for International Settlements paper by Iñaki Aldasoro and Rashad Ahmed, a one-basis-point increase in U.S. bank deposit rates reduced average 10-week stablecoin market growth from 15% to 12%.

From the articleBanks Hold a Lever Over Stablecoin Adoption, BIS Economists Say - DecryptAlso in USDC faces bank-rate pressure – Can Visa’s payments push offset it? - AMBCrypto, A 1-basis-point deposit rate rise cuts stablecoin growth from 15% to 12%, BIS paper finds, Stablecoin Growth Cooled as Deposit Rates Rose, With USDC Most Exposed, Working Paper Says - Unchained, BIS: Bank rate hikes cut stablecoin growth by 3 points