PNC Bank CEO says stablecoins must choose: be a payment tool or a money market fund

The CEO of PNC Bank has articulated the position that stablecoins face a crucial decision: they must clearly define their role in the financial ecosystem by choosing to operate either as a payment tool designed for everyday transactions or as a money market fund that serves as a safe investment vehicle for users seeking to park their funds. This choice is essential for stablecoins to effectively fulfill their intended purpose and gain regulatory acceptance in the financial landscape. source: https://www.coindesk.com/business/2026/01/16/pnc-bank-ceo-says-stablecoins-must-choose-be-a-payment-tool-or-a-money-market-fund