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Stablecoins aren’t the future of money, BIS chief Carstens says

By Phoebe Seers ( February 22, 2023, 12:14 GMT | Insight) -- The events of the last year have cast serious doubts on the ability of stablecoins to function as money, the head of the Bank for International Settlements said today. Central banks must ensure that stablecoins don't harm investors and consumers, nor contribute to the fragmentation of the monetary system, Agustín Carstens said.The events over the past year have cast serious doubts on the ability of stablecoins to function as money, the head of the Bank for International Settlements said today. ...

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