Tassat CEO Praises Federal Stablecoin Recommendations
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Tuesday, November 2, 2021
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Ron Totaro, CEO of Tassat Group Inc. , whose TassatPay blockchain-based B2B payment platform enables bank-issued stablecoins, offered comments on the recommendations on stablecoins by the Presidents Working Group on Financial Markets and federal financial regulators:
Key Points:
- Ron Totaro, CEO of Tassat Group Inc. , whose TassatPay blockchain-based B2B payment platform enables bank-issued stablecoins, offered comments on the recommendations on stablecoins by the Presidents Working Group on Financial Markets and federal financial regulators:
We applaud the recommendations of the Presidents Working Group and regulators. - Bank-issued stablecoins can further de-risk the U.S. financial system because they are backed 1:1 by U.S. dollars in FDIC-insured demand deposit accounts.
- It is critical to ensure that appropriate risk-management standards are met, while creating, promoting and adopting standards for interoperability with all necessary parties.
- Tassat was recently honored with a 2021 Google Cloud Customer Award for innovation in financial services.