1 The Financial Stability Board defines FinTech as technology-enabled innovation in financial  services that could result in new business models, applications, processes or products with an associated material effect on the provision of financial services. Notably, this can include innovation by new firms, existing technology firms, and incumbent financial institutions. 2 See Frost J., Shin, H.S. and Wierts, P. (forthcoming), “An Early Stablecoin?
The Bank of Amsterdam and the Governance of Money”, BIS working paper.