Tether CEO Backs Stablecoins over Tokenized Deposits as BIS Raises Risks
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8 Articles
Tether CEO backs stablecoins over tokenized deposits as BIS raises risks
Tether CEO Paolo Ardoino has challenged the Bank for International Settlements’ preference for tokenized bank deposits, arguing that fully reserved stablecoins give users a stronger alternative to money held under fractional reserve banking. The Bank for International Settlements laid out…
The CEO of Tether, Paolo Ardoino, questioned the BIS's drive for Tokenized Bank Deposits and defended the stablecoins as a form of money with greater support. His statements rekindle the debate about fractional banking, USDT's growth and the possible impact of the CLARITY Act on traditional deposits.
Bitcoin.com
Tether CEO Slams BIS Over Tokenized Bank Deposit Push
Tether CEO Paolo Ardoino stressed that stablecoins are a more trusted form of money than tokenized bank deposits, explaining that they are collateralized by U.S. treasuries, while tokenized bank deposits are usually only backed by 10% in liquid assets. Tether CEO on Tokenized Deposits: “The Emperor Has No Clothes” The debate between several representations of […]
BIS Sees Tokenised Deposits Playing Bigger Role Than Stablecoins in Future Payments
The Bank for International Settlements (BIS) has backed tokenised deposits as a stronger foundation for future payments than stablecoins. BIS General Manager Pablo Hernández de Cos outlined the position at the Jackson Hole Economic Symposium on 28 August. Tokenised deposits could enable programmable payments while remaining connected to central bank money. This would help ensure [...] The post BIS Sees Tokenised Deposits Playing Bigger Role Than…
Stablecoins do not work reliably as a means of large-scale payment, and tokenized deposits offer a more convincing argument to take advantage of this new technology, said Pablo Hernández de Cos, director of the Bank for International Settlements.
On August 28, Pablo Hernández de Cos, General Manager of the Bank for International Settlements (BIS), stated in a speech at the Jackson Hole conference that stablecoins are unsuitable for settlements... The post BIS General Manager Says Stablecoins Unsuitable for Settlements = Report first appeared on NADA NEWS.
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