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The sharp rise in stablecoin usage could drain as much as $1 trillion from emerging market banks over the next three years as savers seek the safety and liquidity of dollar-pegged digital assets, Standard Chartered said in a Monday report.Stablecoins are giving households and companies in developing economies an alternative to local banks, accelerating a post-financial-crisis shift of core banking functions into the non-bank sector, analysts Geoff Kendrick and Madhur Jha wrote.Stablecoins are cryptocurrencies whose value is tied to another asset, such as the U.S. dollar or gold. They play a major role in cryptocurrency markets, providing among other things…

With the third quarter now fully in the books, the original bitcoin treasury company Strategy (MSTR) reported a $3.9 billion gain on its mammoth holdings of BTC for that three month period.Alongside, the compnay confirmed what had been teased by its Executive Chairman Michael Saylor over the weekend — that it did not add to its 640,000 stack last week — the first time since April that it did not do so.Strategy’s average purchase price across its bitcoin holdings is $73,983 per coin. With bitcoin’s current price around $124,000 those holdings are now valued around $78.7 billion, representing roughly $31.4…

Bernstein initiated coverage of Figure (FIGR) with an outperform rating and a $54 price target, calling it a leader in bringing blockchain to credit markets, the broker said in a Monday report.The stock was 2% higher in early trade, around $41.10.Bernstein said Figure is doing for lending what stablecoins did for payments, tokenizing traditional assets to make markets faster and more efficient.With roughly 75% of the $17 billion tokenized private credit market, Figure is the clear frontrunner, according to analysts led by Gautam Chhugani.Figure’s blockchain platform shifts lending from a balance-sheet-heavy model to a capital-light marketplace, giving investors direct access…