Crypto
Banks step back amid war, sanctions risk; commodities settlement shifts to stablecoins
Growing geopolitical risk linked to Iran is pushing some commodity traders out of bank payment networks and increasing reliance on stablecoins as an alternative. CoinDesk reported that Western banks are stepping back from certain trades due to sanctions concerns. Haycen executive Luke Sully said compliance burdens are driving a new wave of “debanking”. In trade finance, stablecoins such as Tether’s USDT are increasingly used for one-off settlement. He said this remains a workaround, not a full solution.
