Bank of Canada (Canada central bank) Governor: Stablecoins (price-pegged cryptocurrency) Need High-Quality Liquid Backing
According to the Bank of Canada (Canada central bank) governor, stablecoins (price-pegged cryptocurrency) should be backed by high-quality liquid assets.
Summary
No Summary provided as the original text is short
Terms & Concepts
Stablecoin: A cryptocurrency designed to maintain a stable value, typically pegged to a fiat currency or commodity through reserves.
High-quality liquid assets (HQLA): Cash and easily sellable securities that can be quickly converted to meet short-term obligations under banking standards.