Central banks essential to preserve trust in money – Carstens
Companies may fragment monetary system through competing stablecoins, warns BIS chief
As technological evolution transforms the financial landscape, central banks play an essential role in preserving trust in money, said Agustín Carstens in a speech on January 18.
The general manager of the Bank for International Settlements acknowledged the innovations fostered by the private sector, including new financial platforms, instant payment technologies and stablecoins.
Nonetheless, throughout history central banks have proven to be the necessary institutions to safeguard trust in
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