Global Standards for Stablecoins
When used at scale as a means of payment, stablecoins can present material risks to the financial system. A new consultative report on applying current international payments standards to these digital coins is a milestone in three respects.
HONG KONG/LONDON – Rapid technological change is increasingly spurring private – and often Big Tech-promoted – initiatives throughout the world of finance, particularly in the payments domain. As a result, the global financial system has arrived at a potentially game-changing moment.