Zhou Xiaochuan Raises Concerns Over Potential Risks of Stablecoins

Former Governor of the People’s Bank of China, Zhou Xiaochuan, has voiced concerns about the potential risks posed by stablecoin integration into financial systems. His comments, delivered during a closed-door seminar in July and released by think tank CF40 on Wednesday, challenge the perceived necessity of incorporating stablecoins into the existing system. According to Zhou, only a limited set of financial services truly benefits from tokenization and decentralization.