Finance
U.S. banks face stablecoin challenge before customers switch
U.S. small businesses still have a low rate of using cryptocurrency and stablecoin payments, but banks could turn that into a new business opportunity, an analysis showed. A survey of 501 U.S. small businesses found usage at 8 percent. Many firms appeared to confuse digital payments with digital assets. Companies active overseas reported substantial remittance fees and large annual payouts, suggesting banks could combine stablecoin settlement networks with corporate banking services to reduce costs and improve efficiency.
