Policymakers are extremely concerned about the risks that stablecoins pose. They want to prevent stablecoins from influencing open market operations, affecting monetary bases, weakening capital controls, draining deposits and increasing systemic risk (Cœuré 2019). Public attention on the topic spiked after Facebook announced its intention to launch its own stablecoin. So far, regulators have been extremely cautious, and preliminary talks have been complicated and lengthy. We approach the issue from a different angle, to try to accommodate business needs while addressing the concerns of regulators (Somoza and T ... (full story)