BIS working papers: the macroeconomics of stablecoins

24 Jun 2026 - 13:25
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Stablecoins – cryptoassets designed to maintain a stable value relative to a reference asset, most commonly the US dollar – have become the dominant medium of exchange within the crypto ecosystem. Their market capitalisation has expanded rapidly in recent years and is forecast to expand further, though projections vary widely. While a growing literature examines […]

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