The U.S. Faster Payments Council (FPC) Digital Assets in the Financial Industry Work Group maps out how digital assets relate to the financial industry, focusing specifically on payments made with digital funds – central bank digital currency (CBDC), regulated liabilities, and stablecoin.  

In a recent article, the FPC Digital Assets Work Group provides an overview of how stablecoins can enable faster and more efficient payments with a focus on meaningful topics for banks and other financial services companies. The article touches on specific examples of areas where traditional financial service organizations and fintech solution providers can begin to plan for the use of stablecoins as a service offering. The article includes the following topics:  

Part 1: The Landscape 

  • Why Stablecoins? 

  • Types of Stablecoins 

Part 2: The Role of Financial Institutions and Other Payment Providers 

  • General Banking 

  • Currency Conversion 

  • Digital Wallets 

  • Infrastructure Services 

  • Custodial Role 

  • Oversight Entity 

  • Cross-Border Payments 

Key Points and Takeaways 

Read the FPC’s article now.