BIS developing ‘Pyxtrial’ for systemic stablecoin monitoring
London Innovation Hub centre will investigate balance sheets and asset-liability mismatches
The Bank for International Settlements has announced a new project named Pyxtrial at its London centre, aimed to develop a platform to monitor stablecoin balance sheets.
Pyxtrial refers to the Trial of the Pyx, one of Britain’s oldest judicial processes, during which the quality of coins is assessed.
“Most central banks lack tools to systematically monitor stablecoins and avoid asset-liability mismatches,” the BIS said. Pyxtrial will investigate technology that may help supervisors and
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