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瑞士银行家协会(SBA):2025瑞士稳定币:瑞士银行稳定币发行机遇与风险研究报告(中译版)(27页).pdf

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1、Swiss Bankers Association Swiss Bankers Association April 20251Stablecoins in Switzerland An overview of the opportunities and risks of stablecoins issued by swiss banksApril 2025 Expert report of the SBASwiss Bankers Association Swiss Bankers Association April 20252 Executive Summary 31 Introductio

2、n 42 Stablecoins in the monetary landscape 62.1 Different forms of money 62.2 Different stablecoin concepts 83 Opportunities and risks of stablecoins for Swiss banks 133.1 Opportunities 143.2 Risks 184 Conclusion 23 Glossary 243Executive SummaryStablecoins have the potential to strengthen the digita

3、l economy in Switzerland as they represent efficient,potentially low-cost and secure means of payment.Their ability to streamline payment proces-ses and to reduce transaction times and costs makes them attractive for various applications,including payment transactions,trading in digital assets and,i

4、n the future,decentralised financial services.As a global innovation leader with a strong financial centre,Switzerland could benefit from the introduction of a Swiss franc stablecoin.As regulated and supervised financial intermediaries,banks are well placed to issue stablecoins compared to other iss

5、uers.They are fundamentally interested in the strategic options and new use cases within the evolving blockchain-based(financial)economy.Stablecoins are usually directly transferred peer-to-peer,and they are regarded as a complement to existing means of payment.They may be more suitable than other m

6、eans of payment for various use cases.The way they are regulated and structured heavily de-pends on national laws,economic conditions and financial market supervision of the respective country.However,the widespread use of stablecoins also poses risks to the domestic financial system,especially if t

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根据报告的内容,本文主要讨论了瑞士银行发行瑞士法郎稳定币的机会和风险。关键点如下: 1. 稳定币作为支付工具和存储价值,具有提高数字经济效率的潜力,适合各种应用场景,如支付交易、数字资产交易和去中心化金融服务。 2. 瑞士作为全球创新领导者,有望从发行瑞士法郎稳定币中受益。银行作为受监管的金融中介,适合发行稳定币。 3. 稳定币通常与稳定资产挂钩,以维持价值稳定。目前大多数稳定币以美元计价,市值超过2000亿美元,但瑞士法郎稳定币尚不普及。 4. 银行发行稳定币可获得收益,支持数字经济发展,具有战略意义。但也面临脱媒风险,影响货币政策传导。 5. 为在瑞士广泛使用,稳定币需与瑞士法郎挂钩。可全额由央行货币支持,或部分由高质量流动资产支持,但存在市场风险。 6. 瑞士银行家协会继续推动制定有利于数字货币发展的框架条件。
瑞士法郎稳定币前景如何? 稳定币对瑞士银行有哪些机遇? 稳定币存在哪些风险?
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