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How CBDCs and stablecoins can coexist: FIS panel discussion

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Eetu Kuneinen argued against CBDCs as they are "centralized by nature," saying that certain dangers come with government control. At the recent Future Innovation Summit event held in Dubai, Cointelegraph moderated a panel titled “Stablecoins, Central Bank Digital Currencies and Cross-Border Payments” to explore if CBDCs and stablecoins can coexist and how this would be possible.  The panel included Jorge Carrasco, the managing director of FTI Consulting; Nikita Sachdev, the founder of Luna Media Corp; Jagadeshwaran Kothandapani, the head for Middle East and Africa for Citibank; and Eetu Kuneinen, the co-founder of the gold-backed stable coin project DGC. The Future Innovation Summit held in the Jumeirah Beach Hotel in Dubai. Source: Cointelegraph The group explored various topics, answering whether stablecoins and CBDCs can coexist. According to Kuneinen, CBDCs would be “centralized by nature” as they would be issued by the government, even though they may be built on ...

ATOM holders can now mint stablecoin IST

Agoric, a blockchain network built on Cosmos, aims to empower developers in building DeFi applications using JavaScript. The Inter Protocol application, operating on the network, has launched its new minting application called Vaults. Inter Protocol is a decentralized application on Agoric. It is an application layer that is responsible for implementing the Inter Stable Token (IST), a native stablecoin on the Cosmos network.  Dean Tribble, CEO of Agoric, noted in a press release reviewed by Blockworks that Vaults will offer an alternative way to mint stable coins “setting decentralized tokens apart from their fiat-backed equivalents.” “Fully functioning Vault systems allows crypto collateral holders to leverage their assets and fulfill their demand for IST, which in turn contributes to the Agoric economy through fees,” Tribble said. IST itself is similar to Maker DAO’s DAI — a decentralized stable coin pegged to the US dollar.  Blockworks Research analyst David Rodriguez said IS...