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Stablecoins and the singleness of money with Rhys Bidder
Manage episode 507686157 series 2853975
In this episode of BFRR – Bitcoin, Fiat & Rock’n’Roll, we welcome a very special guest: Rhys Bidder, Deputy Director of the Qatar Centre for Global Banking and Finance and lecturer at King’s Business School and the University of Cambridge. With a background at the Federal Reserve Bank of San Francisco and years of research at the intersection of monetary policy and digital assets, Rhys brings rare insight into one of the most pressing debates of modern finance: the role of stablecoins.
Our conversation traces Rhys’s journey from monetary theory and stress testing banks after the global financial crisis to becoming a leading voice on central bank digital currencies (CBDCs), stablecoins, and blockchain infrastructure. He explains how stablecoins resemble “narrow banks,” why their settlement models differ radically from traditional banking systems, and why those differences matter for efficiency and global payments.
We dive deep into the risks and opportunities:
What counterparty risk and potential “run risks” mean in a stablecoin world.
How deviations from the “singleness of money” raise fundamental questions for monetary stability.
Why onboarding and offboarding between crypto and fiat is the hidden battleground for adoption.
How stablecoins could both support and complicate monetary policy transmission.
And whether regulators should explore central bank liquidity backstops for properly collateralized issuers.
Rhys also challenges central banks’ often dismissive stance toward stablecoins, arguing that regulators should focus not only on risks but also on constructive frameworks that make them safer. From global lender-of-last-resort questions to the politics of dollarization, this conversation brings monetary economics back to first principles: what is money, how should it work, and who should control it?
If you want to understand how stablecoins could reshape the financial system—and what role they should play alongside banks, CBDCs, and tokenized deposits—this is a must-listen.
LinkedIn Rhys Google Scholar Rhys Bitcoin, Fiat & Rock'n'Roll Website
Bitcoin, Fiat & Rock'n'Roll Telegram Channel
Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll.
Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here
Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here
All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!
360 Episoden
Manage episode 507686157 series 2853975
In this episode of BFRR – Bitcoin, Fiat & Rock’n’Roll, we welcome a very special guest: Rhys Bidder, Deputy Director of the Qatar Centre for Global Banking and Finance and lecturer at King’s Business School and the University of Cambridge. With a background at the Federal Reserve Bank of San Francisco and years of research at the intersection of monetary policy and digital assets, Rhys brings rare insight into one of the most pressing debates of modern finance: the role of stablecoins.
Our conversation traces Rhys’s journey from monetary theory and stress testing banks after the global financial crisis to becoming a leading voice on central bank digital currencies (CBDCs), stablecoins, and blockchain infrastructure. He explains how stablecoins resemble “narrow banks,” why their settlement models differ radically from traditional banking systems, and why those differences matter for efficiency and global payments.
We dive deep into the risks and opportunities:
What counterparty risk and potential “run risks” mean in a stablecoin world.
How deviations from the “singleness of money” raise fundamental questions for monetary stability.
Why onboarding and offboarding between crypto and fiat is the hidden battleground for adoption.
How stablecoins could both support and complicate monetary policy transmission.
And whether regulators should explore central bank liquidity backstops for properly collateralized issuers.
Rhys also challenges central banks’ often dismissive stance toward stablecoins, arguing that regulators should focus not only on risks but also on constructive frameworks that make them safer. From global lender-of-last-resort questions to the politics of dollarization, this conversation brings monetary economics back to first principles: what is money, how should it work, and who should control it?
If you want to understand how stablecoins could reshape the financial system—and what role they should play alongside banks, CBDCs, and tokenized deposits—this is a must-listen.
LinkedIn Rhys Google Scholar Rhys Bitcoin, Fiat & Rock'n'Roll Website
Bitcoin, Fiat & Rock'n'Roll Telegram Channel
Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll.
Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here
Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here
All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!
360 Episoden
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