Bundesbank president: Stabilizing coins, if widely used, may weaken banks

According to Hellenic Shipping News, on Friday, Bundesbank president Jens Weidmann said that the virtual currency linked to fiat money, the stable currency, if it is widely used, may gradually weaken the bank. Weidmann made the remarks at a meeting of the Bundesbank. He said: "They (the stable currency) will almost certainly affect the entire system, not only because of their operational risks, but also in a more fundamental way, they may Destroying bank deposits and their business models. It may also disrupt the intermediary of trading banks and financial markets."