Stablecoins' role in crypto and beyond: functions, risks and policy

European Central Bank · ECB Macroprudential Bulletin, Issue 18 · European Central Bank

ECB assessment of stablecoin functions (trading, settlement, DeFi collateral) and their financial-stability risks.

Read the source

Relevance to stablecoin measurement

Source for reserve/redemption risk framing (and the USD100k USDT redemption-minimum datapoint).

Key findings

Largest stablecoins are used mainly for crypto trading, settlement and DeFi rather than real-economy payments.
Reserve opacity and redemption terms are key risks warranting regulation.

Indexed under

Related Stablecoin Beat data

Companies

Cite this

European Central Bank (2022). Stablecoins' role in crypto and beyond: functions, risks and policy ECB Macroprudential Bulletin, Issue 18.

BibTeX

@techreport{ecb2022stablecoinsrolecryptobeyond,
  title = {Stablecoins' role in crypto and beyond: functions, risks and policy},
  author = {European Central Bank},
  year = {2022},
  institution = {European Central Bank},
  howpublished = {ECB Macroprudential Bulletin, Issue 18},
  url = {https://www.ecb.europa.eu/press/financial-stability-publications/macroprudential-bulletin/html/ecb.mpbu202207_2~836f682ed7.en.html},
  note = {Indexed by Stablecoin Beat},
}

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