Whose stablecoin, whose rails? The battle for institutional settlement

Every institution now wants to issue a stablecoin. Few have answered the question that decides the winners: who owns the rails they settle on? With the market 97% dollar-denominated and Europe weighing its response, the fight is shifting from the coin to the infrastructure beneath it, where privacy and regulatory visibility have to coexist. A dedicated group of senior voices from banks, market infrastructures, asset managers, and the official sector will work through what it takes to take institutional stablecoins from…

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