BIS Chief Questions Stablecoins’ Credibility for Payments at Scale

Stablecoins may not yet be credible for payments conducted at scale, according to Pablo Hernández de Cos, chief of the Bank for International Settlements (BIS), Cointelegraph reported. His comments come as a new study from the BIS Financial Stability Institute (FSI) points to significant differences in the rules governing stablecoin issuers. The findings highlight that regulatory treatment is not uniform across jurisdictions, an issue that may affect how stablecoins are assessed for broader payment use. The source did not provide further details on the specific issuer requirements or explain which jurisdictions were covered by the study. Stablecoins are digital assets designed to maintain a stable value, but the BIS chief’s assessment raises questions about their readiness for large-scale payments. The developments are relevant to the stablecoin market and to digital-asset participants monitoring regulatory standards.