Payments regulators will examine the role of stablecoins in reducing the cost of sending money across borders

According to a report by global regulator Financial Stability Board (FSB), the Committee on International Standard Setting Organization, Payments and Market Infrastructure (CPMI) hopes to further investigate the Stablecoin situation in the coming months, Will examine whether stablecoins can help cut the cost of sending money across borders. The FSC said CPMI was "considering whether and how the use of well-designed, risk-managed stablecoins can advance cross-border payments by addressing existing frictions", with the outcome to be finalised by the end of the year. As the Stablecoin industry is rapidly growing with the potential to have a global impact, close attention needs to be paid to risk management, it added.