By Peter Thal Larsen
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Technology true believers argue digital cash does not need an institutional backstop. In this episode of The Big View, Gaston Gelos of the Bank for International Settlements tells Peter Thal Larsen why stablecoins and other tokens still need central banks to work smoothly.
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FURTHER READING
Anchoring trust in money: innovation beyond stablecoins.
Sterling-denominated systemic stablecoins
The wobbly foundations of the stablecoin boom
The coming battle over the future of money
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