[…] The Clearing House has said recently in a paper that stablecoins have been “solely in the hands of entities that are not subject to the full range of capital, liquidity, cybersecurity and other safety and soundness and customer protection requirements applicable to federally regulated banks.” By putting those creations more fully in the hands of the fully regulated financial institutions (FIs), and with CBDCs, too, the runway becomes clearer for global transfers to take a huge digital leap forward. […]