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BIS to Explore Global Stablecoins for Cross Border Payments

Amy Liu

Summary: Today the Financial Stability Board(FSB) announced that the Committee on Payments and Market Infrastructures (CPMI) should consider whether “well-designed global stabelecoin arrangements” could enhance cross border payments. The deadline is December 2022. It’s unclear whether this means that no global stablecoin should launch until then, such as Diem (formerly Libra). This follows the publication of ...

Today the Financial Stability Board(FSB) announced that the Committee on Payments and Market Infrastructures (CPMI) should consider whether “well-designed global stabelecoin arrangements” could enhance cross border payments. The deadline is December 2022. It’s unclear whether this means that no global stablecoin should launch until then, such as Diem (formerly Libra).

This follows the publication of two major reports on stablecoins in the last few weeks, one by the BIS and IOSCO, and the other by the FSB. However, these both emphasized regulation. 

By Amy Liu

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