Ex-BIS head Carstens sees stablecoins coexisting with fiat, urges regulatory coordination

Agustín Carstens, former head of the Bank for International Settlements, has said stablecoins could coexist alongside fiat currencies. In his view, so-called stablecoins can foster financial innovation, promote inclusion, and reduce transaction costs.

However, Carstens stressed that for stablecoins to achieve global adoption, regulators must coordinate more closely – something that is still lagging behind. The comments come amid growing central bank interest in digital currencies and private stablecoin projects.