Cryptocurrency group Ripple buys stablecoin platform in $200mn deal
Investment follows passing of so-called Genius Act to regulate stablecoins in the US
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Citadel Securities and Fortress take stakes in Ripple at $40bn valuation
$500mn investment round underlines appetite for stablecoin payments sector
Stablecoins can support financial safety
Fears that they make it easier for criminals to move money around are based on a misconception
The stablecoin stumbling block
The crypto tokens are not yet safe enough to be used at scale in the settlement of large, wholesale financial transactions
Bank of England dilutes planned rules for UK stablecoins
Central bank partly backs down after industry criticism over plan for digital tokens
Why we should worry about the rise of stablecoins
Asset-backed digital currencies could pose risks to bedrock of global financial system
Why the ‘stablecoin supercycle’ could rewire banking
Some technologists believe more than 100,000 such payment systems could swamp the world within five years