Stablecoins will not revolutionise money, says BIS
But a “trilogy” of tokenised assets on a unified ledger might, organisation concludes
Stablecoins have design flaws that render them unsuitable as the basis for a monetary revolution, the Bank for International Settlements said today (June 24).
However, the early-release chapter of the organisation’s annual economic report adds that a “trilogy” – comprising tokenised versions of central bank money, commercial bank money and government bonds – could succeed where stablecoins would be likely to fail.
Despite being touted as a possible solution to cross-border payment challenges, the
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