The overlooked stablecoin pushback
plus: AI enthusiasm meets a hope for peace, US jobs are doing fine, and more
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IN THIS NEWSLETTER
The overlooked stablecoin pushback
Markets: AI enthusiasm meets a hope for peace
Macro: a jobs boost
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Come join me tomorrow – Friday, May 8th – in a conversation with John ‘Alyosha’ Johnston, author of the Market Vibes newsletter on Substack.
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The overlooked stablecoin pushback
Earlier this week, the Bank of International Settlements, the central banks’ central bank, published yet another stablecoin report. This one turned out to be a lot more interesting than I expected when I started combing through it. I had thought it would be “more of the same” – stablecoins bring efficiencies to global transfers, but also risk domestic monetary policy management.
The paper does make those points, but it goes deeper into the question of why businesses and individuals in emerging economies would embrace dollar stablecoins. And in so doing, it unearths some intriguing considerations for the global stablecoin outlook.
