Econographics
July 31, 2026 • 10:55 am ET
Hung Tran
In a speech at the Atlantic Council earlier this week, Financial Stability Board Secretary General John Schindler argued that international coordination remains essential in finance because risks and innovation do not stop at national borders. Tokenized bank deposits are a case in point.
Until now, these deposits have largely remained confined to proprietary bank networks, limiting their use across institutions and jurisdictions—especially compared with stablecoins, whose transaction volume reached $33 trillion in 2025. But that may be starting to change.
