BIS Will Develop a Platform that Will Allow to Monitor Stablecoin Reserves
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The Bank for International Settlements (BIS) is developing a monitoring system for the sufficiency of backing “stablecoins.”
The Project Pyxtrial, which was among the organization’s priorities for 2023 and was launched by the London branch of the innovation hub, is designed to help central banks systematically track stablecoins and their balances.
Per the press release:
“Most central banks lack the tools to monitor stablecoins and prevent asset-liability mismatches. The project will explore various technological solutions that will help in […]forming policy frameworks based on integrated data.”
Experts from organizations will continue testing AMM with regard to CBDC to make cross-border payments cheaper for retail consumers.
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