- Tether CEO Paolo Ardoino challenges the BIS's preference for tokenized bank deposits, arguing that fully reserved stablecoins can offer a different model for digital money.
- Dunamu and Visa are partnering to explore stablecoin payments, cross-border remittances, settlement, and AI-driven commerce.
- The stablecoin market is entering what CoinGeek describes as a "sovereign stablecoin era," with governments and financial institutions developing local-currency alternatives alongside dominant dollar stablecoins.
- Across the market, stablecoins are moving deeper into traditional finance as the focus shifts from digital asset adoption to payments, settlement, and financial infrastructure.
Tether CEO Challenges BIS Over Tokenized Bank Deposits
Tether CEO Paolo Ardoino has criticized the Bank for International Settlements' preference for tokenized bank deposits over stablecoins. According to the report, Ardoino argues that stablecoins backed by U.S. Treasuries offer a different risk profile from tokenized deposits, which remain connected to the fractional-reserve banking model.
The debate highlights a larger question about what digital money should look like as tokenization expands. Stablecoins and tokenized deposits may ultimately serve different purposes within the financial system, but their growing overlap is putting traditional banking models under greater scrutiny. The discussion also comes as policymakers consider how new stablecoin rules could affect bank deposits and the movement of savings into fully reserved digital assets.
Dunamu and Visa Partner on Stablecoin Payments and Remittances
Dunamu, the company behind South Korean digital asset platform Upbit, has partnered with Visa to explore stablecoin-based payments, global remittances, and settlement services. The companies plan to combine Dunamu's digital asset technology with Visa's global payments network and assess potential applications across major markets.
The partnership also extends into AI-driven commerce, including systems where AI agents can search for products and complete payments on behalf of users. Open Standard's OUSD is among the stablecoin models being considered, although no specific stablecoin, product, market, or launch date has been finalized. The collaboration remains exploratory and will develop in stages based on regulatory, technical, and commercial requirements.
Stablecoins Enter the Sovereign Era
The stablecoin market is increasingly moving toward a model where dollar-denominated stablecoins coexist with locally issued, currency-backed alternatives. CoinGeek highlights this shift as the beginning of a "sovereign stablecoin era," with countries including the UAE, Hong Kong, Brazil, Nigeria, and Japan developing their own regulatory frameworks and local-currency stablecoin initiatives.
The emerging model does not necessarily mean local currencies will replace dollar stablecoins. Instead, different stablecoins could serve different layers of the financial system, with dollar stablecoins continuing to support international settlement while local-currency instruments target domestic payments and regional commerce. Hong Kong's HKDAP, for example, is already being positioned for payments, treasury management, tokenized money market fund settlement, and cross-border transactions.
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This Weekly Summary is prepared by brava.finance.
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Citations:
https://pluang.com/en/news-feed/ceo-tether-kritik-bis-tentang-tokenisasi-simpanan-bank
https://coingeek.com/stablecoins-boom-as-sovereign-era-arrives/