 Unbacked Crypto-Assets and StablecoinsGeorge Pantelopoulos ()
Chapter Chapter 13 in Between Payments and Credit, 2025, pp 291-324 from Springer Abstract: Abstract Using the previous chapter as a foundational basis, the chapter begins with a critical appraisal of unbacked crypto-assets as to why they are not suitable as means of payments. As a way to classify various types of stablecoins, the numerous stabilisation mechanisms that underpin stablecoins are explained, followed by a synopsis regarding the issuance/payments/redemption for each type of stablecoin. The chapter then turns its attention to reconciling whether stablecoins are crypto-assets, and also unpacks the regulatory treatment of stablecoins. Given the novelty of stablecoins, how the liquidity requirements of banks from the perspective of the Basel Framework are influenced by stablecoins being issued—either by banks themselves, or through dedicated non-bank stablecoin issuers—is then explored. Consideration is then put towards to the DeFi stack, namely by considering the operational layers that exist within the crypto-verse for payments etc. to be effectuated, and in addition, explains the role of centralised/decentralised exchanges. In the penultimate section, blockchain interoperability is explored. Finally, the chapter reflects on the contributions of the crypto-verse to the payments landscape. Date: 2025 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-96-5384-3_13 Ordering information: This item can be ordered from DOI: 10.1007/978-981-96-5384-3_13 Access Statistics for this chapter More chapters in Springer Books from Springer |
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