What is the importance of the latest announcement by 10 major global banks to issue a stablecoin pegged to G7 currencies?
What is AI's role in the adoption of digital assets and the future of asset management in a tokenized world?
PARIS/LONDON Oct 10 (Reuters) - Ten major banks including Bank of America, Deutsche Bank, Goldman Sachs and UBS are jointly exploring issuing a stablecoin, the latest sign of traditional finance seeking to get to grips with the growth of digital assets.
The group of lenders, which includes Citi, MUFG, Barclays, TD Bank, Santander and BNP Paribas, will work together to explore creating blockchain-based assets pegged to G7 currencies, the banks said in a statement on Friday.
In this episode, I am joined by Johnny Fry, the founder of Digital Bytes, to discuss the groundbreaking news about a consortium of global banks planning to launch stablecoins for G7 currencies on public blockchains. We explore the potential impact on global financial systems, and the importance of collaborations in the digital sphere. Johnny emphasizes the significance of digital money, highlighting its advantages over traditional banking methods and the potential for unlocking value in capital markets and the broader economic activity.
We also delve into related topics such as AI's role in the adoption of digital assets, the resilience of DeFi, and the future of asset management in a tokenized world.
This episode provides invaluable insights into the future of financial services and the transformative power of blockchain technology.
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