SHIFT · GLOBAL
BIS chief backs tokenized deposits over stablecoins for digital payments infrastructure
Bank for International Settlements General Manager Pablo Hernández de Cos said tokenized deposits (bank-issued digital money on blockchain) are more likely than stablecoins to function as money. Signal: central banks view tokenized bank liabilities, not private crypto, as the plumbing for next-gen payments.
WHY IT MATTERS
Shapes regulatory stance on CBDCs and tokenized settlement. Banks holding deposits as tokenized assets vs. stablecoins shifts competitive advantage toward traditional banking infrastructure and away from crypto-native payment models.
Source: PYMNTS · 2026-08-28