Stablecoins are rewiring payment flows – rather than adding another layer to a Jenga tower – blockchain technology enables money to bypass the tower entirely. There is still a need to redeem via the regular banking system – but there are a lot more channels and access points for consumers and merchants than just bank accounts.

We like @staffordphilip @ftfinancenews description of stablecoin’s position: between payments network, a bank deposit, and a security. Very true! These are all heavily regulated worlds – no surprise that stablecoins will have to follow suit. Europe’s MiCAR is doing a pretty good job in uniting them in one encompassing regulation and it provides clear guidance for issuers like @Quantoz.