The crypto assets’ value is tied to official currencies and commodities
Stablecoins are an increasingly popular way of making cross-border payments
Stablecoins have the potential to disrupt Europe’s banking system and weaken the impact of monetary policy, a new European Central Bank (ECB) working paper has warned.
An increase in their popularity could lead to a significant decline in the amount of money people have in bank deposits, which will in turn result in less money being available for lending to businesses.
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