At the Jackson Hole Economic Symposium on August 28 BIS general manager Pablo stated stablecoins do not qualify as money at scale, yet noted the world’s largest banks are shifting settlement and routine transactions onto publicly accessible blockchains. This contrast underscores accelerating crypto adoption by major financial institutions and suggests potential market impact for payment rails, DeFi interoperability and blockchain-based settlement despite regulatory skepticism around stablecoins.
Bullish