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Crypto, but government crypto — with Agustín Carstens

ft.com · 753 words · saved by 1 readers

Between attacks on their independence, persistent inflation and AI-powered froth in stock markets, central banks have got a lot on their plate. Another looming worry for central banks: growing interest in digital money — particularly stablecoins. The number of individual stablecoins in use nearly tripled between the middle of last year and the middle of this year, according to the Bank for International Settlements. The market cap of those stablecoins rose from $125bn in 2023 to $255bn over about the same period. That’s equivalent to about 1.5 per cent of US bank deposits. As that same BIS report notes, almost all of the total value of the stablecoin market revolves around just two dollar-denominated stablecoins: USDT (issued by Tether) and USDC (issued by Circle). And the ECB has noted that stablecoins are becoming “more entangled with traditional financial institutions.” On the most recent episode of the FT’s Economics Show podcast, chief economics commentator Martin Wolf spoke to Ag

Agustín Carstens, speaking at a conference hosted by the Bank of Japan, May 27, 2025. © Bloomberg Crypto, but government crypto — with Agustín Carstens on x (opens in a new window) Crypto, but government crypto — with Agustín Carstens on facebook (opens in a new window) Crypto, but government crypto — with Agustín Carstens on linkedin (opens in a new window) Crypto, but government crypto — with Agustín Carstens on whatsapp (opens in a new window) Save Crypto, but government crypto — with Agustín Carstens on x (opens in a new window) Crypto, but government crypto — with Agustín Carstens on face

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