Stablecoins as a means of payment

• Jurisdiction: European Union
• Year: 2023

Speaker

Giles Swan is Head of European Policy at Blockchain.com - a leading crypto finance house. Giles has over two decades of financial services experience as a regulator, policymaker and prior to joining Blockchain.com was the global policy director of a leading trade association for the investment fund industry. Giles is also the programme director and faculty for several finance related courses and education certificates.

During his time as a policymaker, Giles chaired an ESMA task force negotiating the Alternative Investment Fund Managers Directive, was a national representative on ESMA’s Investment Management Standing Committee and was a national expert in the Council of Ministers. Giles holds a BA in Banking and Finance, first class, from London Guildhall University and an MSc in Finance and Investment from CASS Business School.

Topic

This comprehensive e-presentation aims to provide a detailed insight into the concept of stablecoins, shedding light on their fundamental characteristics and elucidating their pivotal role within the dynamic digital asset ecosystem. By delving into the intricacies of stablecoins, we aim to equip you with a thorough understanding of their significance in the broader financial landscape and their specific contributions to the ever-evolving realm of digital payments.

Stablecoins, in essence, represent a class of cryptocurrencies designed to maintain a stable value, in stark contrast to the notorious price volatility often associated with traditional cryptocurrencies like Bitcoin and Ethereum. These digital assets achieve their stability through a variety of mechanisms, including collateralization, algorithmic methods, and even centralized control. This stability serves as a crucial foundation for their utility in the financial world, as it enables them to function effectively as a medium of exchange, a unit of account, and a store of value, characteristics that are indispensable for a well-functioning payment system.

In today's rapidly advancing digital economy, stablecoins play an increasingly prominent role in facilitating seamless and efficient transactions. Their reliability in maintaining a constant value...