POPA ReconBIS Chief: Stablecoins Are Not a Credible Means of Payment at Scale
BIS Chief: Stablecoins Are Not a Credible Means of Payment at Scale According to Reuters, Bank for International Settlements (BIS) General Manager Pablo Hernández de Cos said at the Jackson Hole Economic Policy Symposium that stablecoins are not a credible means of payment at scale, while tokenized deposits offer a more compelling way to harness tokenization. He said the two could coexist, but tokenized deposits should handle most everyday payments, with stablecoins serving more specialized purposes. De Cos said stablecoins could lower government borrowing costs by increasing demand for U.S.…
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