CASE STUDY | This African Example Shows Local Stablecoins Could Boost Demand for Digital Dollars, Warns IMF
Efforts by emerging markets to develop local-currency stablecoins could inadvertently increase demand for U.S. dollar-backed tokens, the IMF said, as users may favor dollar stablecoins because of their deeper liquidity, stronger network effects and wider acceptance. The issue is particularly relevant in emerging markets where stablecoins can provide easier access to foreign currency while also weakening traditional controls over capital flows and increasing dollarization. South Africa offers an early case study. Stablecoins: Promise, Risks, and Policy Choices for […]
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- CASE STUDY | This African Example Shows Local Stablecoins Could Boost Demand for Digital Dollars, Warns IMF
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