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BofE and BIS develop tech to monitor the backing of stablecoins
The Bank of England and the BIS Innovation Hub have developed a system that gives supervisors near real time data about stablecoins' liabilities and their backing assets. Stablecoins are a fast-growing but still largely unregulated sector with a market capitalisation of around $162 billion. Last year, the BIS Innovation Hub in London and the BofE embarked on Project Pyxtrial to explore how technology can help regulators monitor asset-backed stablecoins' balance sheets, providing insight into whether the backing assets exceed their liabilities at all times. The partners now say they have developed a prototype data ... (full story)
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- Posted: Jul 31, 2024 10:14pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 182
