Stablecoins as stablization programs for the West
The Genius Act is about more than separating credit functions from payment float. It’s a form of forward guidance that says, ‘You can trust us, because we have an intent to peg. ‘
The Weekly Peg (3/3): Jack Ma says ‘I told you so’
The fight over whether stablecoins should hold all assets in unremunerated reserves at the BoE heats up. Plus, SWFs are getting into stablecoins.