Stablecoins and the future of money: separating functions from instruments
· Christine Lagarde, President of the European Central Bank (Euro area (EU))
Summary written by Dark Majestic in its own words · topics: financial stability, payments, digital money and crypto-assets, development and emerging economies
CL · Christine Lagarde Wiki · European Central Bank WikiStablecoins and the future of money: separating functions from instrumentsContextSpeech by Christine Lagarde at the Banco de España LatAm Economic Forum in Roda de Barà, Spain.
Why it mattersThe ECB President's fullest statement on stablecoins, explaining why Europe wants money anchored in central bank money.
Problems raised- Stablecoins grew from under $10 billion to over $300 billion.
- Euro stablecoins could amplify existing vulnerabilities.
- Europe risks importing fragilities from other models.
Solutions proposed- Build public infrastructure anchored in central bank money.
- Ensure safety and interoperability whatever the instrument.
- Require issuers to hold a large share of reserves in banks (MiCA).
Read full speech on ecb.europa.eu ↗More from Christine Lagarde · European Central Bank · all speeches
More speeches by Christine Lagarde
Other leaders on financial stability
