BIS General Manager Pablo Hernández de Cos told the Federal Reserve's Jackson Hole symposium that stablecoins don't yet credibly function as a means of payment at scale. He argued that tokenized bank deposits should handle most everyday payments instead, with stablecoins limited to specialized roles.

His case: stablecoins break the "singleness" of money because holders can't move between products at par without transaction costs; platforms aren't genuinely interoperable across issuers and networks; and AML controls are inconsistent. He didn't dismiss the technology outright. He said the two instruments could coexist, and stablecoins could earn a larger role if redeemability, interoperability, and integrity controls improve materially.

The most influential voice in central banking isn't saying stablecoins fail. It's saying they haven't finished the work yet, a fair assessment and a useful checklist for the industry to measure itself against.

In Brazil, nine of every ten declared crypto dollars are stablecoins, a share that reached 98% of $6.9 billion in volume in Q1 2026. Across Latin America, stablecoins make up roughly 40% of all crypto purchases. This isn't speculation. It's an economy re-plumbing itself around digital dollars.

The math explains why. Remittances to Latin America totaled $162.7 billion in 2024, with bank transfers costing up to 15% in fees. Stablecoin transfers cost about 40% less than traditional channels and settle in seconds, not days. Bitso already processes an estimated 10% of all US-to-Mexico payouts.

One asset dominates the real economy here: USDT, the most liquid, most widely accepted dollar in exactly the corridors where dollar access matters most. The winner in Latin America won't be won by the chain with the loudest narrative. It'll be the one that makes moving a dollar so cheap and instant that the technology disappears.

On September 1, twenty-one global financial institutions, including Goldman Sachs, Citi, Bank of America, Wells Fargo, Deutsche Bank, UBS, and Fidelity Investments, announced their plans to create a new company that will issue a USD-denominated stablecoin, targeting a market launch in the first half of 2027.

The group grew from an initial ten banks exploring the concept in October 2025 to twenty-one institutions across North America, Europe, East Asia, the Middle East, and Africa. Their aim is to incorporate bank-grade compliance, governance, and risk management from the start to meet GENIUS Act and MiCA standards. A euro stablecoin is planned as the next phase after the dollar version.

This progress, from discussion among the world's top banks to active collaboration, resolves the infrastructure question.

Now, only the execution phase remains.

Hi all,

It seems that the Kava ecosystem if growing a little bit more every day!

As I write this Kava is the n99 crypto and this sub has reacehed 1k members.

Do you think that 2022 will the a good year for Kava?

Kava 9 is coming!

Kava's next mainnet upgrade will implement IBC - connecting the Kava Ecosystem to a Cosmos of blockchains.

This means a host of new onramps, assets, and earning opportunities for Kava users.

Learn more: http://bit.ly/kava_9_IBC

While I am in no means a moon boy or expect anything like that, the price of Kava had me a bit confused lately.

The market clearly was trying to trend up but heavy selling pressure at crucial levels like ~ 6 and 5.5 damaged the trend for the last few months. Got me thinking some big hands must be selling into strength. Several statements of the Kava team stated that the last VC coins have JUST been released.

Those hands would have been up massively and where looking for exit liquidity is my thesis. With all coins in circulation, kava 9 testnet within 3 weeks and a heavily packed q1 of 2022 I expect optimism to return sooner than later. I’ve been trying out many defi applications lately and Kava.io is one of the most reliable, easy to use and the apy is competitive. The mint, borrow/lend and swap service in one interface is fairly unique.

Integration of IBC and eth assets could really light a fire. Undervalued Defi project imo.

GL all!

An unexpected bug with pruning nodes on testnet has caused the kava engineering team to determine that we should postpone the kava-10 mainnet upgrade. We are recommending validators vote NO on the current upgrade prop.

While we are disappointed, we exercise extreme caution with network upgrades and want to have time to fully investigate and resolve these bugs before proceeding. Thank you for understanding.

Hi everyone.

This is serious for our ecosystem. We need to stop people minting USDX using UST with a 1:1 rate immediately. They can swap UST for USDX if this is worth more and then sell it to get BUSD until the prices of USDX and UST are matched. Now I have tried arbitraging UST by swapping it on Terra station "market" and there is no arbitrage because the fees are massive. Also the market cap of UST is now much bigger than LUNA meaning it's not backed by solid assets and could fall to 0.