Jewel Financial institution Desires to Change into a International Stablecoin Issuer, With Bermuda’s OK — CoinDesk

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“The large problem that occurs, let’s say there was a run, let’s say there was a chapter or some main situation. The holder of the stablecoin has no contractual declare on the funds in custody. The one one who does, who has any say, and might management the entire thing is the underlying issuer, which isn’t the custodian,” Barnett stated. He stated that such a disaster will be averted if a personal financial institution is each the issuer and the custodian.

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