堪萨斯城联储:资金从银行流向稳定币或将增加美债需求及减少贷款供应

Odaily
Aug 26, 2025

Odaily星球日报讯 堪萨斯城联储发布数据显示,稳定币发行商持有约 1250 亿美元的国库券,不到 6 万亿美元未偿国库券总量的 2%,相比之下保险公司持有的数量大约是其五倍,而最大的私人买家共同基金则持有 4.5 万亿美元,是其 36 倍。

堪萨斯城联储经济学家 Stefan Jacewitz 研究分析指出,尽管稳定币市场目前规模太小,无法对美国国债需求产生巨大影响,但预计该市场规模在未来几年将大幅增长,因为随着资金将从银行存款中流出转向稳定币,潜在资金流能会增加国债需求,但同时也可能减少经济中的贷款供应。(Markets)

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