In search for stability in crypto-assets: are stablecoins the solution?

Dirk Bullmann, Jonas Klemm, Andrea Pinna · ECB Occasional Paper No. 230 · European Central Bank

ECB taxonomy of stablecoins by stabilization mechanism, assessing whether each can deliver price stability.

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Relevance to stablecoin measurement

Reference taxonomy for our backing-type coverage.

Key findings

Classifies stablecoins into tokenized funds, off-chain and on-chain collateralized, and algorithmic types.
Argues stability depends on the credibility of the stabilization mechanism and its governance.

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Design & Economics Regulation & Policy

Cite this

Dirk Bullmann, Jonas Klemm, Andrea Pinna (2019). In search for stability in crypto-assets: are stablecoins the solution? ECB Occasional Paper No. 230.

BibTeX

@techreport{bullmann2019searchforstability,
  title = {In search for stability in crypto-assets: are stablecoins the solution?},
  author = {Dirk Bullmann and Jonas Klemm and Andrea Pinna},
  year = {2019},
  institution = {European Central Bank},
  howpublished = {ECB Occasional Paper No. 230},
  url = {https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op230~d57946be3b.en.pdf},
  note = {Indexed by Stablecoin Beat},
}

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