As anticipated by our CEO, Rhom Ram, in his 2021 September blog post 'Are Stablecoins a threat to Capital Markets Incumbents?', the speed of market acceptance of stablecoins has been remarkably quick and therefore constitutes a financial stability concern for regulators.
As legislative frameworks are currently under construction, stablecoin arrangements - particularly because they depend on the receipt of fiat currency to issue corresponding digital tokens in exchange - look soon to be fully treated like depositary institutions.
Unlike a stablecoin, each Fnality Payment System doesn’t create or issue novel payment instruments, but is instead designed to be the 'system operator' of assets...