Beyond crypto – Stablecoins and tokenised assets in mainstream banking
The collapse of speculative crypto exchanges such as FTX did not end the conversation on digital assets. Instead, it clarified the distinction between unregulated markets and the development of regulated instruments such as stablecoins, tokenised deposits and tokenised securities. René Michau, group head of digital assets at Standard Chartered, compared the implosion of FTX to the failure of Enron in the energy sector. “It was a corporate failure, not a failure of the underlying infrastructure,” he said. For Michau, public blockchains represent a new “operating system for financial services” that can coexist with, rather than replace, traditional rails.
Executives across global transaction banking agree…
