Stablecoins to facilitate cross-border transactions: Singapore Fintech Festival panel

At the Singapore Fintech Festival senior directors from Circle and Standard Chartered, said that the evolution of digital currencies and banking is speeding up.

In a session at the Singapore Fintech Festival on building the future of financial systems, Jeremy Allaire, co-founder, chairman and CEO of Circle, a US-based stablecoin, and Bill Winters, group chief executive of Standard Chartered provided their expertise on cross-border digital payments.

Allaire pointed to the expanding remit of digital currencies moving from digital cash and assets to play a role in cross border transactions, remittance and humanitarian aid. He said, “Because of programmability of these instruments, we will see use cases that haven't been possible so far.”

The regulations guiding these instruments and ensuring that stablecoins were in fact stable’ are also being put in...

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