Building a CBDC
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Source: Banque de France
Source: Banque de France
-operated payment systems because they are the ultimate means of payment.
-operated payment systems because they are the ultimate means of payment.
1. Seamless convertibility into the ultimate means of payment.
2. Interoperability
3. Settlement finality
1. Seamless convertibility into the ultimate means of payment.
2. Interoperability
3. Settlement finality
Some BIS colleagues argued that stablecoins fail the singleness of money test… and the FT had this amazing quote…
But I disagree!
Some BIS colleagues argued that stablecoins fail the singleness of money test… and the FT had this amazing quote…
But I disagree!
If you look closely they speak of systemic stablecoin for payment systems
Principle 9 of the PFMIs recommends settlement in central bank money and if not possible, second best is money backed by central bank money
If you look closely they speak of systemic stablecoin for payment systems
Principle 9 of the PFMIs recommends settlement in central bank money and if not possible, second best is money backed by central bank money