Italy’s Central Bank Finds Stablecoins Still Can’t Beat Traditional Payments

Stablecoins make perfect sense on paper. It goes without saying that if you replace a chain of correspondent banks with a blockchain transaction, then cross-border payments should become faster, cheaper and available around the clock due to the fundamental nature of blockchain versus the fundamental nature of the global commerce landscape’s correspondent banking network. But new experiments by Banca d’Italia, the Italian central bank, and Project Agorá , a public-private collaboration, show that