Stablecoins as a financial innovation: Problems and prospects
Abstract
The evolution of the cryptocurrency decentralized finance (DeFi) ecosystem has led to the emergence of a need for stablecoin cryptocurrencies, positioned as sustainable settlement instruments that can compete with global fiat currencies in the future. Despite the significant increase in the volume of financial transactions carried out using stablecoins, they are currently considered poorly regulated and high-risk. An analysis of the correlation between the dynamics of the main indicators characterizing the state of the stablecoin market and changes in central bank rates showed that the trends in the stablecoin market are currently determined to a greater extent by factors in the DeFi sector and are weakly dependent on the accounting policies of central banks. The article examines the risks of the stablecoin market and discusses the main approaches to its regulation.
About the Authors
P. A. Romanov
Yandex LLC
Russian Federation
Russian Federation
Petr A. Romanov – data processing specialist,
Moscow.
A. A. Romanova
Orel State University named after I.S. Turgenev
Russian Federation
Russian Federation
Anna A. Romanova – Candidate of Economic Sciences, Associate Professor, Associate Professor of the University,
Orel.
V. A. Perepelkin
Samara State University of Economics
Russian Federation
Russian Federation
Viacheslav A. Perepelkin – Doctor of Economics, Associate Professor, Professor,
Samara.
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Review
For citations:
Romanov P.A., Romanova A.A., Perepelkin V.A. Stablecoins as a financial innovation: Problems and prospects. Vestnik of Samara State University of Economics. 2024;(2):59-68. (In Russ.)
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