Proposed Bank Jewel Wants to Become a Global Stablecoin Issuer, With Bermuda’s OK — CoinDesk


Proposed Bank Jewel Wants to Become a Global Stablecoin Issuer, With Bermuda’s OK — CoinDesk

“The big challenge that happens, let’s say there was a run, let’s say there was a bankruptcy or some major issue. The holder of the stablecoin has no contractual claim on the funds in custody. The only one who does, who has any say, and can control the whole thing is the underlying issuer, which is not the custodian,” Barnett said. He said that such a crisis can be avoided if a private bank is both the issuer and the custodian.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Adblock Detected

please turn of your ad blocker to using this website .