Stablecoin Advice from New York Fed Advisor

According to one of the advisers to the New York Federal Reserve, there may be a loophole for central banks that want to issue their own digital currency.

Antoine Martin, speaking in London stablecoins He said he could offer a solution for central banks.

“Instead of developing their own (CBDCs), central banks can support stablecoins backed by reserves in the central bank’s account at a one-to-one ratio.”

Will enable central banks to support major stablecoins legal infrastructure It is not easy to prepare. But according to the New York Fed adviser, this is a central bank’s easier than trying to run your own CBDC.

Martin, who advises the New York Fed on financial stability, talks about stablecoins and China’s financial stability. Platforms like Alipay and Tenpay drawing a parallel between There are very close solutions expressed.

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