Permissionless payments may be the future – NY Fed study
Stablecoins’ accessibility makes them different from other fast payment options, say authors
The driving factor behind the growth in stablecoins is their permissionless nature, new research from the Federal Reserve Bank of New York concludes.
In a post published on November 25, authors Rod Garratt and Michael Junho Lee point to stablecoins’ global, open-access and peer-to-peer nature.
“Following the recent passage of legislation in the US, payment stablecoins seem to be on the brink of wider-scale adoption and explosive growth in market capitalisation,” they write. They add that the
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