{"id":77505,"date":"2026-08-31T07:33:44","date_gmt":"2026-08-31T07:33:44","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tether-ceo-slams-bis-over-tokenized-bank-deposit-push\/"},"modified":"2026-08-31T07:33:44","modified_gmt":"2026-08-31T07:33:44","slug":"tether-ceo-slams-bis-over-tokenized-bank-deposit-push","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tether-ceo-slams-bis-over-tokenized-bank-deposit-push\/","title":{"rendered":"Tether CEO Slams BIS Over Tokenized Bank Deposit Push"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Tether\u2019s CEO defended stablecoins after the BIS claimed tokenized deposits are better fiat substitutes.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Ardoino argued stablecoins are safer because they are fully backed, exposing bank fractional reserves.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The dispute highlights bank fears that the CLARITY ACT could trigger massive deposit flight to stablecoins.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Tether CEO on Tokenized Deposits: \u201cThe Emperor Has No Clothes\u201d<\/h2>\n<p>The debate between several representations of onchain fiat money and the advantages they offer users is raging.<\/p>\n<p>Paolo Ardoino criticized recent statements by Pablo Hernandez de Cos, the General Manager of the Bank for International Settlements (BIS), who <a href=\"https:\/\/news.bitcoin.com\/crypto-news\/bis-chief-stablecoins-tokenized-deposits\/\">stressed that stablecoins are not an effective substitute<\/a> for fiat money as they face several issues.<\/p>\n<p>These include poor redeemability, supply issues, interoperability problems, and facilitation of crime.<\/p>\n<p>De Cos instead promoted tokenized bank deposits as a <strong>\u201cmore direct path to harness \u200btokenisation while preserving the monetary system\u2019s foundations.\u201d<\/strong><\/p>\n<p>Ardoino <a href=\"https:\/\/x.com\/paoloardoino\/status\/2093976138016018605?s=20\" target=\"_blank\" rel=\"noopener noreferrer\">stressed that BIS\u2019s concerns came as stablecoins were naturally a higher form of money than tokenized deposits<\/a>, as they were almost fully backed by U.S. Treasuries, while the latter were usually only 10% collateralized by liquid assets.<\/p>\n<p><strong>\u201cBIS is rightfully worried about the fact that stablecoins are exposing the emperor without clothes. Why someone should choose to put his savings into a fractional reserve product while stablecoins are fully reserved?\u201d <\/strong>Ardoino declared.<\/p>\n<p>Stablecoins have grown in popularity and adoption, and Tether\u2019s USDT, which boasts a market capitalization of over $183 billion at the time of writing, has become a relevant product in emerging markets: <a href=\"https:\/\/news.bitcoin.com\/stablecoins\/tether-ceo-says-usdt-drives-trade-across-emerging-markets\/\">Ardoino himself pointed out<\/a> that there were economies <strong>\u201cheavily relying on USDT, for both internal and foreign commerce.\u201d <\/strong><\/p>\n<p>The stablecoin issue has reached into the higher echelons of U.S. politics, becoming a pain point in the debate over passing the Digital Asset Market Clarity Act, known as the CLARITY ACT, as <a href=\"https:\/\/news.bitcoin.com\/regulation-and-legal\/community-bankers-demand-total-ban-on-stablecoin-rewards\/\">banks fear deposit flight<\/a> if crypto exchanges are allowed to issue rewards for these products.<\/p>\n<p><strong>\u201cWhat happens to financial system if people start realizing that stablecoins are safer and move their savings into the better asset class? We\u2019re in the Find Out phase.\u201d <\/strong>Ardoino concluded, hinting at large-scale deposits-for-stablecoins substitution.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/stablecoins\/tether-ceo-slams-bis-over-tokenized-bank-deposit-push\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Tether\u2019s CEO defended stablecoins after the BIS claimed tokenized deposits are better fiat substitutes. Ardoino argued stablecoins are safer because they are fully backed, exposing bank fractional reserves. The dispute highlights bank fears that the CLARITY ACT could trigger massive deposit flight to stablecoins. Tether CEO [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":77506,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/77505"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=77505"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/77505\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/77506"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=77505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=77505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=77505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}