The Weekly Peg: Regulators strike back

The FSB raises the alarm over stablecoin asset concentration at the very short end of the yield curve and the potential for stablecoins to trigger market disruptions.

Photo by André Ravazzi on Unsplash

Industry news:

— Another group of leading international banks said it was exploring the issuance of a 1:1 reserve-backed form of digital money, this time featuring BNP Paribas and Goldman Sachs.

— The Solana Foundation said it has partnered with a Korean blockchain infrastructure company to build a “compliance-ready” Korean won-pegged stablecoin.

Key graf: “Solana and Wavebridge will develop a tokenization engine to manage the issuance, verification, and compliance procedures for Korean won stablecoins.”