Stablecoin Drawbacks in Cross-Border Use Outweigh Benefits, Payments Standard-Setter CPMI Says

The Committee on Payment and Market Infrastructures (CPMI), which sets norms for the sector for the Bank for International Settlements, said stablecoins could “open up opportunities” for cross-border transfers by speeding up transactions and lowering costs, as proponents claim, but potential drawbacks would probably outweigh the benefits.