Central bank test lab to trial 'stablecoin' monitoring system


FILE PHOTO Representations of cryptocurrencies Bitcoin Ethereum and DogeCoin are placed on PC motherboard in this illustration taken June 29 2021. REUTERSDado RuvicFile Photo

FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum and DogeCoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/File Photo

LONDON (Reuters) - A global central bank test lab run out of London is designing a 'stablecoin' monitoring system aimed at giving authorities a clearer picture on how they work and how to regulate them in future.

Stablecoins are a type of cryptocurrency which aim to maintain a 1:1 peg with a fiat currency such as the dollar. The collapse last year of a widely-used stablecoin pair, Luna and TerraUSD, sparked widespread turmoil in crypto markets.

Unlock 30% Savings on Ad-Free Access Now!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Others Also Read


Want to listen to full audio?

Unlock unlimited access to enjoy personalise features on the TheStar.com.my

Already a member? Log In