STABLECOIN ISSUERS RISK DISRUPTING FUNDING MARKETS, JPMORGAN SAYS

Summary from the TLDR Crypto newsletter

According to JPMorgan, the rise of stablecoin issuers in short-term funding markets may disrupt the sector, following the Federal Reserve's decision to limit access to the reverse repo facility. This could lead to stablecoins competing with the multitrillion-dollar money-market fund industry for assets, like Treasury bills, potentially driving rates down. The bank cautioned this could expose the traditional financial system to the instability found in the crypto space.