According to Reuters, Pablo Hernández de Cos, General Manager of the Bank for International Settlements (BIS), stated at the Jackson Hole Global Central Bank Annual Meeting that stablecoins cannot become a reliable means for large-scale payments. Tokenized deposits are a more attractive option for leveraging tokenization technology. Both can coexist, but tokenized deposits should handle the majority of daily payments, while stablecoins are better suited for specific scenarios. De Cos pointed out that stablecoins might reduce government financing costs by increasing demand for U.S. Treasuries, but the flow of funds from bank deposits to stablecoins could also raise banks' financing costs and interest rates for ordinary borrowers. Additionally, stablecoins face issues such as lack of interoperability and challenges in uniformly enforcing anti-money laundering measures. The widespread use of USD stablecoins in certain jurisdictions could also weaken monetary sovereignty and the effectiveness of domestic monetary policies. Tokenized deposits, however, still need to address interoperability, governance, and legal barriers. https://(wublock123.com)/news/bis-manager-stablecoins-not-reliable-for-mass-payments-67434