Aly Soliman Stablecoins have emerged as an innovative form of money in the financial landscape. While they represent a small fraction of the global financial system, stablecoins have grown by US$30 billion in the last few months (as reported on DefiLlama). The potential effect of stablecoins on the payment industry could be substantial and merits … Continue reading With the arrival of stablecoins, is it time to pay farewell to traditional payment rails?
digital currency
The payments system is merely a technical and bookkeeping question, mundane in the end. The idea of operating it with only reserves puts in stark relief a far more important question: What is the point of banks at all?