Yam-ki Chan runs the Asia Pacific business at stablecoin operator Circle. He speaks to DigFin’s Jame DiBiasio about ongoing questions regarding licensing and regulation, particularly in Singapore and other jurisdictions.
The failure of Silicon Valley Bank in 2023 has focused attention on how stablecoins manage their reserves, and Chan talks about risk management and how central banks are tackling this issue.
Finally, he talks about the future business models of stablecoin operators facing new competitors and the impact stablecoins are having on both the US dollar as well as disruptive cryptocurrencies such as Bitcoin. .
Timecode:0:00 – Yam-ki Chan, Circle1:28 – Licensing of stablecoin operators, Singapore’s catalytic role, and how regulators can create a better way to move funds across borders Want to support?7:18 – Local currency issuance and USD-backed stablecoins9:38 –Regulatory risks disrupting Circle’s global model11:12 – Issues around custodians and holding of reserve assets13: 30 – Impact of Silicon Valley Bank Failure on Stablecoin Regulation15:56 – Commercial Banking Relations16:48 – Should stablecoin operators be regulated the same as banks?21:30 – Pure Stablecoin Regulation Viability of the tablecoin operating business model26:04 – Comparison with rivals with sales networks28:56 – Stablecoins, Bitcoin and the dollar
Source link
