The CEO of Bank of America warns that up to $6 trillion in deposits could flow into yield-bearing stablecoins. Yet as global regulatory frameworks take shape, banks are likely to shift from passive defense to active embrace of stablecoin technology, using it as a tool to sharpen efficiency and global competitiveness, as seen with JPMorgan’s deposit tokens. Banks will not disappear, but their form and function will be profoundly reshaped by this financial transformation.