Bank for International Settlements report: Stablecoins fail to meet three key tests of currency

According to a report by Golden Finance, the Bank for International Settlements (BIS) recently pointed out that stablecoins have not yet met the requirements to become a pillar of the monetary system in the three key tests of singularity, elasticity, and integrity. In its report titled 'The next-generation monetary and financial system', the Bank for International Settlements stated that tokenization represents a transformative innovation that can both improve old things and empower new ones. It paves the way for new patterns in cross-border payments, securities markets, and other fields. A tokenization platform centered around central bank reserves, commercial bank currency, and government bonds can lay the foundation for the next generation of currency and financial systems. Stablecoins have shown some prospects in tokenization, but they have not yet met the requirements to become a pillar of the monetary system in the three key tests of singularity, elasticity, and integrity. (Pengpai News)