Ex-BIS research head backs tokenised deposits over stablecoins
Tokenisation is the “truly transformative innovation”, argue Cecchetti and Schoenholtz
Tokenised deposits are more likely than stablecoins to become the innovation that transforms finance, argue Stephen Cecchetti, former head of the monetary and economic department at the Bank for International Settlements, and Kermit Schoenholtz, former chief economist at Citigroup.
In a column published on August 22 by the Centre for Economic Policy Research, the two veteran economists say tokenised deposits are “digital representations of traditional bank deposits”. They say such deposits carry
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