Alex Barrage, a partner in Troutman Pepper Locke’s Financial Services Industry Group, was quoted in the March 13, 2025 American Banker article, “Banks Are Pushing Back Against Stablecoin Legislation.”

Alexandra Steinberg Barrage, a partner at Troutman Pepper Locke, said that stablecoins, instead of being the functional equivalent of and competitor with bank deposits, would only offer competitive payment alternatives.

“You have to look at the economics of stablecoin issuance and economics of holding stablecoins,and when you do that, we think it’s actually going to be expensive for banks to issue stablecoin if we’re assuming a world where stablecoin aren’t issuing any kind of yield or issuance,” she said.