Similar substitution patterns appeared when replacing ordinary deposit rates with certificate of deposit rates, and when testing stablecoins supplied to decentralized finance lending platforms.

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From the articleA 1-basis-point deposit rate rise cuts stablecoin growth from 15% to 12%, BIS paper findsAlso in BIS: Bank rate hikes cut stablecoin growth by 3 points

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A 1-basis-point deposit rate rise cuts stablecoin growth from 15% to 12%, BIS paper finds

Cc9f267dcArticle

BIS: Bank rate hikes cut stablecoin growth by 3 points