Stablecoin market capitalization represents 20% of the total AUM of high-quality money market mutual funds

In Boston Fed President Eric Rosengren’s speech yesterday titled “Financial Stability,” slide six noted that the market capitalization of stablecoins is growing rapidly and is now about 20% of the total AUM of prime money market mutual funds.
Accordingly, Avanti Financial Group CEO Caitlin Long sounded the alarm that this could be a precursor to the Federal Reserve laying the groundwork for a regulatory framework for stablecoins, but Rosengren ultimately seemed to take a more moderate view.

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