Will Banks Mint Their Own Stablecoins?

The USDF Consortium has set out to build a system for bank-minted stablecoins that would blend the attractions of digital currency, blockchain administration and faster payments. In time this could improve payments and other experiences for both companies and consumers.

To date, many of the uses for stablecoins — digital currencies denominated and tied to fiat currencies, such as the U.S. dollar — have been to facilitate other digital currency transactions. But the banking industry has fresh designs on the stablecoin. Beyond business payments, early intentions are to use the technology for consumer payments, as well. Also envisioned are financial marketplaces and crypto and securities lending.

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