In line with its ongoing skepticism regarding the cryptocurrency industry, the Bank for International Settlements (BIS) has published a new report on stablecoins that seems to support the institution’s views that they cannot become a means of storing value nor a trustworthy means of payment.
As it happens, the BIS concluded that none of the 68 stablecoins it overviewed could remain true to its name – being “stable,” arguing that “not one of them has been able to maintain parity with its peg at all times (…) irrespective of their size or type of backing,” according to the study published on November 8.
“For these reasons, we conclude that the stablecoins in circulation today do not meet the key criteria for being a safe store of value and a trustworthy means of payment in the real economy.”
BIS’s anti-stablecoin arguments
Indeed, the BIS’s analysts stated that “there is no guarantee that stablecoin issuers could redeem users’ stablecoins in full and on demand
We współpracy z: https://finbold.com/bis-study-stablecoins-cant-be-trustworthy-payment-means/
