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G7 Working Group on Stablecoins-Investigating the impact of global stablecoins

Published: 2019-10

Organization: Bank of International Settlements

Overview: Stablecoins have many of the features of cryptoassets but seek to stabilise the price of the “coin” by linking its value to that of a pool of assets. Therefore, stablecoins might be more capable of serving as a means of payment and store of value, and they could potentially contribute to the development of global payment arrangements that are faster, cheaper and more inclusive than present arrangements. That said, stablecoins are just one of many initiatives that seek to address existing challenges in the payment system and, being a nascent technology, they are largely untested.

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