#BinanceAlphaAlert Foreign governments, including Singapore, are increasingly interested in stablecoins not tied to the US dollar, despite their currently limited liquidity, said Dea Markova, policy director at Fireblocks, to Cointelegraph at Token2049.
In an exclusive interview, Markova described the competition with dollar-pegged stablecoins as "all about sovereignty." She compared the situation to previous tensions between governments and American payment giants like Visa and Mastercard.
"We are now seeing the same dynamic with stablecoins - on a smaller scale for now - but they are certainly emerging as a new arena for sovereign concerns," she said.
According to Markova, dollar-pegged stablecoins operating in the European Union are already "having a huge headache," especially from central banks. "Even though they comply with regulations and are regulated, they are experiencing strong pushback."
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