BIS General Manager Questions Credibility of Stablecoins for Large-Scale Payments

Bank for International Settlements (BIS) General Manager Pablo Hernández de Cos stated that stablecoins lack the credibility required for large-scale payments and daily use. He proposed tokenized bank deposits as a superior alternative that maintains the current monetary system while leveraging tokenization benefits. Hernández de Cos highlighted concerns regarding limited interoperability, inconsistent anti-money laundering (AML) enforcement, and the potential for dollar-pegged stablecoins to undermine foreign monetary sovereignty. A concurrent report from