BIS chief Pablo Hernández de Cos says stablecoins just aren't reliable enough for large-scale payments. Meanwhile, new research from the FSI throws the spotlight on major differences in how stablecoin issuers are regulated around the world.

What the BIS Head Actually Said

According to Hernández de Cos, stablecoins don't cut it as a tool for mass payments. His skepticism is all about whether these tokens can handle reliable settlements as volumes and user bases grow.

Key Takeaways from the FSI Study

The latest FSI research points to some big gaps in the rules for stablecoin issuers. The report underscores that the regulatory requirements for these issuers are all over the map, making for a fragmented environment for using and circulating stablecoins.

Put together, the BIS chief's comments and the FSI findings highlight a core headache for stablecoins in payments: there's no consistent playbook for issuers, and it's still an open question whether these assets are up for the challenge of truly scaling up.