Former CEO of the Bank for International Settlements, Agustín Carstens, said at the Point Zero Forum in Zurich that stablecoins can promote financial innovation and lower costs if conditions are created to allow them to coexist with fiat currencies. He also emphasized the need for international regulatory coordination, which, in his view, has lagged behind market developments.

This stance is noticeably milder than Carstens’s previous rhetoric: working at BIS, he called private digital money unreliable and pointed out that it did not pass tests for unity, elasticity, and protection against illegal activity. Now, without officially representing the organization, he allows for the coexistence of stablecoins and fiates - but only with agreed rules. The BIS itself maintains a tighter approach: in the recent Annual Economic Report 2026, stablecoins are described as private assets that create risks to financial stability, while tokenization within the regulated banking system is supported.

The change of tone is taking place against the background of regulatory frameworks: GENIUS Act in the US, MiCA in the EU. However, national norms are not sufficient for the cross-border use of "stable coins." Against this background, experts continue to debate the future of the sector: Tether founder Reve Collins predicts that in five years all currencies will be presented in the form of stablecoins. while Jefferies analysts warn of the potential outflow of deposits from traditional banks as the sector’s capitalization rises to $1.15 trillion.