Blockchain Report on Nostr: Tether CEO Paolo Ardoino has responded to comments made by the head of the Bank for ...
Tether CEO Paolo Ardoino has responded to comments made by the head of the Bank for International Settlements (BIS), who suggested that stablecoins lack credibility in large-scale payments and that tokenized bank deposits are a preferred alternative. Ardoino asserted that stablecoins are fully backed by highly liquid assets such as U.S. Treasury bonds, providing 100% liquidity reserves. In contrast, he characterized tokenized bank deposits as essentially "verbal promises" of uninsured bank deposits, typically backed by only about 10% in liquid assets. According to Ardoino, the BIS's core concern lies in the potential for stablecoins to expose the vulnerabilities of the traditional financial system. He posits that as users recognize the greater safety of fully-backed stablecoins compared to fractional-reserve deposit products, and shift their savings to superior asset classes, the established financial system could face significant disruption.
#crypto #blockchain #news
Published at
2026-08-30 09:33:09 UTCEvent JSON
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"content": "Tether CEO Paolo Ardoino has responded to comments made by the head of the Bank for International Settlements (BIS), who suggested that stablecoins lack credibility in large-scale payments and that tokenized bank deposits are a preferred alternative. Ardoino asserted that stablecoins are fully backed by highly liquid assets such as U.S. Treasury bonds, providing 100% liquidity reserves. In contrast, he characterized tokenized bank deposits as essentially \"verbal promises\" of uninsured bank deposits, typically backed by only about 10% in liquid assets. According to Ardoino, the BIS's core concern lies in the potential for stablecoins to expose the vulnerabilities of the traditional financial system. He posits that as users recognize the greater safety of fully-backed stablecoins compared to fractional-reserve deposit products, and shift their savings to superior asset classes, the established financial system could face significant disruption.\n\n#crypto #blockchain #news ",
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