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Research overview

Stablecoins beyond crypto

2025–26 · Working paper

Research into stablecoins as financial infrastructure rather than an asset class: cross-border liquidity, settlement, counterparty structure, corporate cash management and sovereign-debt demand. The central question is which parts of today's financial intermediation become economically unnecessary if the settlement layer changes.

Research focus

  • Stablecoins
  • Digital assets
  • Corporate finance
  • Corporate treasury
  • Settlement
  • Cross-border payments
  • Liquidity
  • Financial infrastructure
  • Tokenization

Status

Working paper. This page provides a concise overview of the work and its research domain.