News Explorer — BIS, Bank of England Showcase Project Providing Real-time Data on Stablecoin Liabilities and Assets

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BIS, Bank of England Showcase Project Providing Real-time Data on Stablecoin Liabilities and Assets

The Bank for International Settlements and the Bank of England have collaborated on a project called Pyxtrial, which aims to provide near real-time data on stablecoins' liabilities and the assets backing them. This initiative could also be extended to monitor other tokenized products backed by real-world assets. Pyxtrial allows authorities to directly access data from issuers' systems to verify on-chain liabilities, addressing concerns about the validity of reserves held by stablecoin issuers.