[6] There is no guarantee that they can be redeemed at par at any time – just last week the world’s biggest stablecoin temporarily lost its peg to the dollar. And stablecoins do not benefit from deposit insurance, nor do they have access to central bank standing facilities.
The utilisation of the complete economic space of the Economic Union through multidestination tourism and the greater possibility of backward and forward linkages in a widened market space will provide the potential for greater competiveness.