Andrew Bailey warns of an increased likelihood that multiple vulnerabilities could crystallise at the same time, amplifying the threat to financial stability and the provision of critical financial services.
Financial Stability Board
Related discussions have appeared in the UK, where Bank of England governor Andrew Bailey has highlighted the potential of tokenised deposits - digital representations of commercial bank money - as a more realistic path to innovation than privately issued stablecoins.
Central Banking
Last updated: 21 June 2026
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