Banks Shift Settlement to Public Blockchains as BIS Says Stablecoins Fail as Money at Scale
Updated
Updated · cryptorank.io · Aug 29
Banks Shift Settlement to Public Blockchains as BIS Says Stablecoins Fail as Money at Scale
1 articles · Updated · cryptorank.io · Aug 29
Summary
Major banks are pushing ahead with stablecoin-related plans by moving settlement and routine transactions onto publicly accessible blockchains, signaling deeper use of crypto infrastructure in mainstream finance.
At the August 28 Jackson Hole symposium, BIS General Manager Pablo said stablecoins do not qualify as money at scale, setting up a sharp contrast with banks’ expanding blockchain deployment.
That divergence points to potential changes in payment rails and blockchain-based settlement, even as regulatory skepticism around stablecoins persists.
The shift also suggests growing pressure to connect bank activity with DeFi-compatible infrastructure, widening the market impact of public-blockchain adoption beyond crypto-native firms.