The death of Silvergate's SEN could play a major role in driving stablecoin adoption among crypto traders, according to the study.
Stablecoins Could Benefit From Silvergate’s Struggles: ReportThe death of Silvergate’s SEN could play a major role in driving stablecoin adoption among crypto traders, according to the study.
and Kraken, started abandoning the bank. While Silvergate’s issues may affect crypto entities since access to the global banking system has always been a major challenge for them, Kaiko believes the “death of SEN” will help stablecoins “become even more ubiquitous among traders.”Silvergate’s SEN Nonetheless, Kaiko stated that the stablecoin issuers will still need access to a crypto bank, “so the risk is now further concentrated.”With the rise of stablecoins, the number of new fiat trading pairs listed by crypto exchanges has declined globally. Last year, the number of new dollar pairs on exchanges dropped from 400 to 326, according to Kaiko., the USD market share has declined consistently relative to USDT and USDC.
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