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In the next few years, the stablecoin industry could potentially rival traditional money market funds for influence in the commercial paper sector, the ratings company said in a note. Stablecoins may also be disruptive for commercial paper markets if investors lost confidence in the tokens, Fitch warned.
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“Current growth rates and reserve allocations suggest that stablecoins could become a significant investor group in the U.S. CP market,” Fitch analysts including Alastair Sewell, senior director of fund and asset manager ratings, wrote in the note dated Oct. 18.
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