There’s an interesting new take on tokenized fiat, which is neither a CBDC nor stablecoins.



Organizations are building products that enable customers to lock funds in their bank account, and withdraw them as blockchain tokens. You unlock the cash in your account by depositing the fiat tokens back again.

This initially seems similar to stablecoins, but the bank, not a company (like Tether) has custody of the reserves – arguably making this approach much safer and more reliable.

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