ChainCatcher news, according to CoinDesk, the Bank for International Settlements (BIS) and the Bank of England have released their Pyxtrial project report, which aims to monitor the reserve status of asset-backed stablecoins and tokenized assets, to be used for stablecoin balance sheet regulation, thereby helping countries respond more effectively to the risks posed by stablecoins. Currently, the system is not yet fully prepared for launch. Countries have also emphasized concerns about the recent runs on stablecoins.The Bank for International Settlements also stated that Pyxtrial has the potential to monitor tokenized products backed by real-world assets (RWA).

ChainCatcher news, CoinDesk reports that the Bank for International Settlements (BIS) is developing a stablecoin monitoring system to ensure that issuers maintain sufficient reserve assets. The BIS announced its 2023 work plan on Tuesday, stating that the initiative, named Project Pyxtrial, will utilize research on technological tools to help regulators form a data-driven policy framework.The initiative will launch this year at the BIS's innovation center in London. The BIS is also committed to developing a monitoring system for cryptocurrencies and DeFi through Project Atlas. (Source link)