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Why central banks should embrace stablecoins
Stablecoins are no longer a niche experiment. They now have a market value in excess of $300bn, with annual transaction volumes surpassing Visa and Mastercard combined. That momentum is likely to accelerate following the Genius Act in the US, which introduces federal regulation and allows banks to issue stablecoins. While central banks have been sceptical about stablecoins, they are now recognising the role stablecoins could play. The European Central Bank recently noted the benefits of stablecoins for cross-border payments and said the financial ecosystem of tomorrow will host multiple forms of money. The Bank of ... (full story)
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