Sets global payment standards financial institutions wants to reduce the cost of sending money abroad. Today, an intergovernmental group, stablecoins He said they would look into whether he could help with this.
The Role of Stablecoins in Reducing the Cost of International Payments Being Investigated by Financial Institutions
According to a new report from the Financial Stability Board, the Payments and Market Infrastructures Committee wants to find out if stablecoins are delivering on their promise of cheaper and faster transactions.
International organizations tasked with monitoring the global financial system, supported by central banks and finance ministries around the world, have begun to show interest in stablecoins.
According to a report by the Financial Stability Board, it is stated that it is desired to further investigate the situation of stablecoins trying to maintain their value against fiat money in the coming months.
In addition, the report said, given that the stablecoin industry is developing rapidly with the potential to have a global impact, close attention will be required to risk management.
Bank for International Settlements (BIS) supported by To the Financial Cooperation Board (FSB) It is chaired by Klaas Knot, Governor of the Dutch Central Bank.
Ahead of Wednesday’s meeting of finance ministers, the Financial Cooperation Board (FSB) has announced that the global economy, including clearer norms for stablecoins, cryptocurrency will present their plans for determining the rulebook.
The FSB said last year that it wants credited overseas payments to be possible within one hour and at less than 1% transaction costs by 2027, and is currently exploring a number of ways to achieve this goal.
*Not investment advice.
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