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Only one cryptocurrency set to lead stablecoin hype, Electric Capital says

Stablecoins are booming, and one cryptocurrency could quietly become the foundation of a new dollar-based economy, analysts at Electric Capital say. Despite widespread talk about “de-dollarization,” the global thirst for U.S. dollars is far from disappearing. In fact, it’s reaching new heights. Behind the scenes, a powerful shift is underway: billions of people and countless…

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Stablecoins threaten financial stability, says Bank of England governor Andrew Bailey

Bank of England governor and cryptocurrency skeptic Andrew Bailey has advised banks to avoid issuing stablecoins. According to Bailey, stablecoins pose systemic risks to financial stability and threaten the very nature of money if not properly regulated. He warned that stablecoins lack the protections and guarantees offered by traditional bank deposits and could remove money…

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