Universal interoperability is the missing piece that can unlock stablecoins’ and CBDCs’ potential for the global digital economy.
Stablecoins are the cornerstone of the digital asset marketplace with a market cap of over $100 billion. Governments are already putting considerable resources in being up to speed with the trends. A November 2021 report published by the United States President’s Working Group on Financial Markets details the various measures to ensure stablecoin regulation is implemented within government guidelines. A global central bank survey by the Bank for International Settlements (BIS) shows 86% of central banks are now actively engaged in some way with central bank digital currencies (CBDCs), a government-backed form of a stablecoin. Of this cohort of central banks, seven have now officially launched CBDCs, while 17 more are in the pilot phase, according to the Atlantic Council CBDC tracker.Like all
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