A View at Stablecoins and Its Implications: A US and Europe Comparison (hosted by Frankfurt School Blockchain Center)
The new crypto and digital asset ecosystem is quickly advancing and has produced a requirement for a price-stable means of exchange to, e.g., facilitate settlement on-chain. Also, for new business models that previously suggested cryptocurrencies, e.g., efficient cross-border transactions, a stable means of payment is sought after.
Stablecoins may present a solution for both, as stablecoins attempt to offer price-stable on-chain means of payment through either fiat collateral or crypto collateral or try to achieve stability through algorithmic asset supply management. Even incumbents are considering the use of stablecoins for efficiency gains.
Currently, stablecoins can be issued by regulated or unregulated entities. Hence, stablecoins not just enable a new means of exchange or are capable of serving as an alternative means of payment but may have implications for monetary policy and financial stability. Therefore, the regulation of stablecoins is closely looked at and is developing with significant variances and speed in various regions and jurisdictions. For example, while there is currently a lot of movement in the US region, nearly all fiat-backed stablecoins are USD-backed; e.g., under the European MiCA regulation issuing a stablecoin comes with significant hurdles.
DLT Talents (Women in Blockchain) and Mastercard invite you to address the following questions:
What are stablecoins?
What are stablecoins currently used for?
Where will stablecoins fill a gap in the current financial system?
What is the current regulatory approach in the US and Europe?
Who feels threatened by the recent development of stablecoins?
During the online panel, you will also have the opportunity to ask direct questions to the speakers.
Sina Meier, Managing Director, 21Shares (Moderator)
Holly Jones, Director, Blockchain & Digital Currencies, Mastercard
Anca Bogdana Rusu, Partnerships, Policy and Advocacy, Celo
Jaye Harrill, Ecosystem Builder, Quantstamp
Dr. Nina-Luisa Siedler, Partner, DWF