Stablecoin: Difference between revisions
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imported>Doug Williamson (Add quote. Source: ACT Payments landscape blog 20 Jan 2021 https://www.treasurers.org/hub/blog/update-payments-landscape/January-2021) |
imported>Doug Williamson (Add quote - source - Bank of England - https://www.bankofengland.co.uk/speech/2023/april/jon-cunliffe-keynote-speech-at-the-innovate-finance-global-summit) |
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''Cryptoassets - volatility.'' | ''Cryptoassets - volatility.'' | ||
A stablecoin is a privately issued cryptoasset that aims to provide price stability by backing the coin with other assets. | A stablecoin is usually a privately issued cryptoasset that aims to provide price stability by backing the coin with other assets. | ||
:<span style="color:#4B0082">'''''Not all stablecoins are equally stable'''''</span> | |||
:"The umbrella term ‘stablecoin’ has been used to describe a range of instruments with quite different characteristics. | |||
:In particular, they may be backed by a range of financial assets, commodities or unbacked cryptoassets (which in some cases are supported by algorithmic protocols). | |||
:The robustness of those backing assets and the wider safeguards for guaranteeing stability of value vary significantly across the products labelled as stablecoins." | |||
:''Sir Jon Cunliffe, Bank of England Deputy Governor for Financial Stability - Innovate Finance Global Summit - 17 April 2023.'' | |||
| Line 10: | Line 21: | ||
:It took place with distributed ledger technology provided by SETL — a UK-based regulated blockchain services provider - which also provided the CBDC stablecoin." | :It took place with distributed ledger technology provided by SETL — a UK-based regulated blockchain services provider - which also provided the CBDC stablecoin." | ||
:''Association of Corporate Treasurers Payments landscape blog, Naresh Aggarwal, Associate Director, Policy & Technical, 20 January 2021.'' | |||
:''Association of Corporate Treasurers Payments landscape blog, Naresh Aggarwal, Associate Director, Policy & Technical, 20 January 2021'' | |||
== See also == | == See also == | ||
* [[Algorithm]] | |||
* [[Altcoin]] | * [[Altcoin]] | ||
* [[Asset-referenced token]] (ART) | |||
* [[Bitcoin]] | * [[Bitcoin]] | ||
* [[Blockchain]] | * [[Blockchain]] | ||
* [[Britcoin]] | |||
* [[Central bank digital currency]] (CBDC) | * [[Central bank digital currency]] (CBDC) | ||
* [[Commodity]] | |||
* [[Cryptoassets]] | * [[Cryptoassets]] | ||
* [[Cryptocurrency]] | * [[Cryptocurrency]] | ||
* [[Cryptography]] | * [[Cryptography]] | ||
* [[Distributed ledger]] | * [[Distributed ledger]] | ||
* [[E-money token]] (EMT) | |||
* [[Fiat currency]] | * [[Fiat currency]] | ||
* [[Financial asset]] | |||
* [[Intangible assets]] | * [[Intangible assets]] | ||
* [[Internal Crypto-Assets Task Force]] | * [[Internal Crypto-Assets Task Force]] | ||
* [[Monetary policy]] | * [[Monetary policy]] | ||
* [[Money]] | * [[Money]] | ||
* [[Protocol]] | |||
* [[Ripple]] | * [[Ripple]] | ||
* [[Token]] | * [[Token]] | ||
* [[Unbacked]] | |||
* [[USD Coin]] | |||
* [[Volatility]] | * [[Volatility]] | ||
==External links== | |||
*[https://www.bankofengland.co.uk/speech/2023/april/jon-cunliffe-keynote-speech-at-the-innovate-finance-global-summit Speech by Sir Jon Cunliffe, Bank of England Deputy Governor for Financial Stability - Innovate Finance Global Summit - 17 April 2023] | |||
[https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op223~3ce14e986c.en.pdf Crypto-Assets: Implications for financial stability, monetary policy, and payments and market infrastructures, May 2019, ECB Report] | *[https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op223~3ce14e986c.en.pdf Crypto-Assets: Implications for financial stability, monetary policy, and payments and market infrastructures, May 2019, ECB Report] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 10:24, 23 April 2023
Cryptoassets - volatility.
A stablecoin is usually a privately issued cryptoasset that aims to provide price stability by backing the coin with other assets.
- Not all stablecoins are equally stable
- "The umbrella term ‘stablecoin’ has been used to describe a range of instruments with quite different characteristics.
- In particular, they may be backed by a range of financial assets, commodities or unbacked cryptoassets (which in some cases are supported by algorithmic protocols).
- The robustness of those backing assets and the wider safeguards for guaranteeing stability of value vary significantly across the products labelled as stablecoins."
- Sir Jon Cunliffe, Bank of England Deputy Governor for Financial Stability - Innovate Finance Global Summit - 17 April 2023.
- CBDC pilot
- "Le Banque de France announced on January 19 that a pilot saw 2 million euro worth of simulated shares purchased and sold by investors using a CBDC.
- It took place with distributed ledger technology provided by SETL — a UK-based regulated blockchain services provider - which also provided the CBDC stablecoin."
- Association of Corporate Treasurers Payments landscape blog, Naresh Aggarwal, Associate Director, Policy & Technical, 20 January 2021.
See also
- Algorithm
- Altcoin
- Asset-referenced token (ART)
- Bitcoin
- Blockchain
- Britcoin
- Central bank digital currency (CBDC)
- Commodity
- Cryptoassets
- Cryptocurrency
- Cryptography
- Distributed ledger
- E-money token (EMT)
- Fiat currency
- Financial asset
- Intangible assets
- Internal Crypto-Assets Task Force
- Monetary policy
- Money
- Protocol
- Ripple
- Token
- Unbacked
- USD Coin
- Volatility
