The post Payment Watchdog To Explore Stablecoins For Cutting International Payment Costs appeared first on Coinpedia Fintech News
A recent report from the Financial Stability Board states that the Committee on Payments and Market Infrastructure (CPMI) wants to know if stablecoins can deliver on their promise of faster and less expensive transactions.
Global payment standard-setters seek to reduce the cost of international payments. An intergovernmental group stated that it will investigate whether stablecoins can assist.
The Financial Stability Board further added that the CPMI is examining whether and how the implementation of well-designed and risk-managed stablecoin arrangements can boost cross-border payments by resolving existing frictions. The outcomes are expected by the end of this year.
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