An official committee of the Bank of England tasked with monitoring the economy of the UK says it will continue to monitor developments in stablecoins and the financial risks associated with these assets.

In a report of its April 4th and April 8th meetings, the Financial Policy Committee (FPC) identifies the risks posed by stablecoins as the market for these stable asset-pegged cryptocurrencies grew in size and activity over the past year.

“Greater issuance of sterling offshore stablecoins with inappropriate backing assets, or backing assets on which the risk is poorly managed, could be vulnerable to greater risk of fire-sales of backing assets, with implications for core financial markets in the UK.”

The body warns against the dominance of stablecoins backed by foreign currencies, even as the UK and other jurisdictions work on developing regulatory regimes for these assets.

“Even with appropriate regulation, greater use of stablecoins denominated in foreign currencies could make some economies vulnerable to currency substitution and other macro financial implications.”

The FPC says there are also potential implications for cross-border payments once stablecoin use goes beyond crypto settlements.

“For retail flows, stablecoins could see greater household and SMEs use for cross-border payments, which may result in currency substitution. For wholesale flows, settlement outside of central bank money could increase counterparty credit risk and make it harder to moderate increased volatility in cross-border flows through central bank liquidity facilities.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Press Release: SurR.Ai Celebrates Two Years of Art Evolution: From Ethereum NFTs to Bitcoin Ordinals, Digital to Physical Art, and Beyond.

LV Agency, Inc., in collaboration with SurR.Ai, is excited to announce the celebration of SurR.Ai’s two-year anniversary, marking a significant milestone in its transformative journey through the digital art landscape. This anniversary not only highlights SurR.Ai’s pioneering evolution from Ethereum NFTs to Bitcoin Ordinals but also underscores its dedication to merging digital and physical art. By bridging the past, present, and future, SurR.Ai continues to set new standards in the art world, redefining what’s possible in the field of collectibles.

SurR.Ai is a cutting-edge startup offering curated on-chain digital art collectibles, NFT news, and Web3 education. It transforms digital artworks into physical forms like fine art prints, dynamic video loop prints, and both human and robotic painting reproductions, available on demand. By blending digital innovation with traditional art, SurR.Ai bridges the gap between the digital and physical art worlds, making it easier to appreciate and invest in unique collectibles.

Join us for Exclusive Updates: SurR.Ai Showcase Page on LinkedIn https://lnkd.in/eXT_C9FS

Keep up with the latest from SurR.Ai! Our showcase page on LinkedIn is regularly updated with new information about NFT drops, new physical and digital products, and more. Be part of the cutting-edge trends and insights in the world of phygital art and Web3.

Beyond art creation, SurR.Ai actively educates and informs the public about the Web3 industry. Through our engaging blog, NFTSurRPost.com, our dedicated newsletter “The Future of Collectibles,” and the Art + Tech media digest “The Pitch Perfect Phygital” on LinkedIn, we provide valuable insights into the merging of traditional and digital art worlds. SurR.Ai is more than just a startup – it’s a comprehensive hub and community for art collectors and enthusiasts, where artistry and technological innovation converge both IRL and in the digital space.

Subscribe now to a free weekly media digest by SurR.Ai on LinkedIn!

“The Pitch Perfect Phygital” – a free weekly newsletter crafted by SurR.Ai in collaboration with LV Agency, Inc. This innovative publication pierces through the core of art, technology, and media, offering unparalleled insights at their crossroads. Tailored specifically for journalists, media and PR professionals, and discerning art collectors, this newsletter dives deep into the realms of both physical and digital artscapes, AI breakthroughs, and blockchain advancements.

Subscribe to our weekly newsletter for the latest insights into ‘phygital’ trends at the crossroads of art, technology, and commerce. Explore the dynamic world of traditional physical and on-chain digital art collectibles with our comprehensive coverage. We are dedicated to keeping you informed, educated, and at the forefront of both tangible artworks and Web3 innovations in this rapidly evolving industry

“The Future of Collectibles” newsletter is your go-to source for the latest trends at the intersection of art, technology, and commerce within the dynamic world of collectibles. We are committed to delivering up-to-date articles, analytics, and forecasts covering the digital and traditional art markets, along with insights into the Web3 industry, helping you stay informed and ahead in this rapidly evolving space.

Behind every NFT is a Story. Read them on NFTsurRPost.com

NFT SurR Post, an integral component of the SurR.Ai project, is a leading online publication dedicated to exploring the intersection of physical and on-chain digital visual arts, advancements in the metaverse, the phygital concept, and the broader art market. Positioned at the nexus of art, technology, and commerce, it delves into the rapidly evolving world of collectibles, providing insightful perspectives on this dynamic landscape.

NFT SurR Post is revolutionizing the digital art space by delivering cutting-edge NFT news, providing comprehensive Web3 education, and showcasing SurR.Ai’s unique and surreal OnChain Collectibles. The publication explores the creative narratives, backstories, and concepts behind SurR.Ai’s blockchain-secured art collectibles, offering readers an in-depth understanding of the artistic processes and thoughts behind each unique artwork.

Read More: The Best Place to Find Rare and Unique Crypto Collectibles: Discover the World of NFTs with SurR.Ai’s Innovative News Aggregation.

Access our blog directly at NFTSurRPost.com & Follow us at https://lnkd.in/gQ4XXjht

LV Agency, Inc. , Inc. is a digital and Web3 services company with over 26 years of experience in the marketing industry. Since its expansion into Web3 in 2022, LV Agency has partnered with innovative startups like SurR.Ai to enhance their visibility in the global digital space. Through strategic initiatives and targeted outreach, LV Agency plays a pivotal role in shaping the future of digital art and crypto adoption.

Learn more by visiting our publications online: “The Future of Collectibles,” “The Pitch Perfect Phygital,” and follow SurR.Ai on social media: YouTube, LinkedIn, X, Instagram, Discord, Telegram, Facebook.

Find the perfect gift for every season and any occasion with SurR.Ai. Discover our unique selection of physical and digital artworks, now available for purchase in US dollars at the SurR.Ai HUG Shop!

“SurR.Ai is a prolific collaborative AI artist who never ceases exploring new prompts, themes, and subject matter in his work.” – HUG

The SurR.Ai HUG Shop is open 24/7! Explore it anytime!

Embrace the synergy of digital and physical art. Shop SurR.AI’s HUG Collection today and own a piece of the avant-garde art revolution.

Stay updated by following us on Twitter(X) | Instagram | Threads | LinkedIn | Bluesky | Lazy | Facebook | YouTube | Telegram | Discord | HUG | Directory.art

Cover Image – at a glance: NFT Image with Medium Resolution (Still image File NFT)

The listed price on OpenSea marketplace is for this particular NFT, featuring a medium-resolution digital file from SurR.Ai’s Collection. Additional purchases can include physical fine art prints and loop videos, both available at an extra cost. UltraHD NFT files are offered as options, either with the HD fine art prints or as standalone products.