The Bank for International Settlements has released a special chapter of its Annual Economic Report 2026 on the future monetary and financial system. The core message is clear: tokenisation can improve payments and financial markets, but only if innovation is anchored in reliable legal, supervisory and monetary arrangements.

The report says stablecoins demonstrate part of tokenisation’s potential, including faster and programmable payments. At the same time, the BIS argues that current stablecoin designs fall short on key properties of money: singleness, reliable redemption at par, interoperability and resilience against misuse.

• tokenisation can improve competition and payment efficiency;
• stablecoins may create financial stability risks if used at scale;
• dollar-denominated stablecoin demand can challenge monetary sovereignty elsewhere;
• the BIS favours a two-tier system with central banks and regulated commercial banks.

The market takeaway is that tokenised deposits, central bank money and regulated payment systems will compete with stablecoins not only on speed, but also on trust. This is why initiatives such as Project Agora matter for cross-border settlement: they test how a shared platform for tokenised commercial bank deposits and central bank reserves could work.

For exchange service clients, choosing a network and asset remains a risk decision, not just a fee decision. On the Obmin.me exchange page, users can choose directions for crypto and stablecoin exchange, while operational checks are described in the AML/KYC policy.

Sources: BIS press release, Annual Economic Report 2026.