Dollar-backed stablecoins can push local currencies lower, Bank of Korea study finds

60-second summary

Bank of Korea research shows that buying pressure on Binance‑paired stablecoins, which are dollar‑backed, consistently drives local currencies lower as market makers hedge by selling the underlying fiat; the study links increased stablecoin demand to measurable depreciation across Asian markets, suggesting that expanding stablecoin usage could amplify currency volatility and pressure on regional monetary policy.