Although some central bankers have been panicking about their sector’s impotence or complacency in response to the expected dollar stablecoin boom, the Eurosystem has been stepping on the gas for its digital overhaul of wholesale euro settlement projects to embed public money at the heart of tokenisation. The same official expects, as a private opinion, that distributed ledger technology will underpin the majority of finance within 10 years.| OMFIF
While G7 central banks continue to agonise over supplementing physical cash with digital money, and in the case of the US, ban the central bank digital currency version outright, India has surged ahead with a mobile-based payments platform accounting for half the world’s real-time payments in 2023.| OMFIF
While unperturbed by the customary condescension from ‘crypto-native’ digital assets disruptors at closed-door meetings, this person instead came away profoundly unsettled from similar gatherings of central bankers discussing the potentially radical implications of the forthcoming Genius Act – the US stablecoin bill expected to become law in 2025. This was put in motion by Donald Trump’s 23 January executive order, which set out for the US to lead the world in blockchain-based finance...| OMFIF
