BIS says stablecoins lack payment credibility at scale; tokenised bank deposits favored for routine use

The Bank for International Settlements (BIS) said stablecoins lack credibility for payments at scale, according to BIS chief Pablo Hernández de Cos ^{[1] [2]}.

BIS chief Pablo Hernández de Cos, speaking at the Jackson Hole symposium, said tokenised bank deposits are a stronger option than stablecoins for daily use ^{[2] [1]}.

BIS reportedly drew a line between stablecoins and tokenised commercial-bank deposits, suggesting the latter are better positioned to carry routine transactions if financial activity moves onto programmable networks ^[3].

Additional reporting reiterated that BIS considers stablecoins still not credible money at scale and highlighted tokenised deposits as the alternative discussed by Hernández de Cos ^[4].