Inside the Bank of England's Digital Pound Lab, two kinds of digital money sit within the same payment: an exporter receives an advance in a stablecoin, the British importer settles the final instalment in digital central bank money, and both legs belong to one and the same trade deal. For you as an investor in Germany, this is not a British footnote. The question being rehearsed there arises every time you park USDC on an exchange: who owns the…
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