Stablecoins may be safer than bank deposits: Proof of Talk panel
Haun Ventures general partner Diogo Monica claims that stablecoins are safer than commercial bank deposits, but critics warn of transparency issues with issuers like Tether.
Stablecoins may be safer than deposits held at commercial banks, according to Diogo Monica, general partner at Haun Ventures.
Speaking during a panel discussion titled “Stablecoins: Programmable Money in a Digital World” at the Proof of Talk conference in Paris on June 10, Monica said that many stablecoins are backed by reserves held at globally systemically important banks (G-SIBs) or in short-term US Treasury bills, which he views as more secure than commercial bank deposits.
“It’s actually much better than having a dollar in a commercial bank,” Monica said.