Paolo Ardoino: Stablecoins have full reserve support and are safer than tokenized bank deposits

In response to criticism from the Bank for International Settlements (BIS) regarding stablecoins, Tether CEO Paolo Ardoino stated that stablecoins are fully backed by liquid assets, while tokenized bank deposits rely solely on bank commitments and lack deposit insurance protection. Paolo Ardoino believes that BIS is concerned that stablecoins may reveal the essence of the traditional reserve requirement system in the financial system. If the public realizes that stablecoins are safer and transfers savings, the financial system will face challenges.