Federal Reserve Borad, December 16, 2022 – The stable in stablecoins – Garth Baughman, Francesca Carapella, Jacob Gerszten, and David Mills: “Stablecoins have garnered much attention as a key part of the emerging decentralized finance (or “DeFi”) ecosystem, and as a potential way to pay for goods and services. Stablecoins facilitate trades on crypto exchanges, serve as the underlying asset for many crypto loans, and allow market participants to avoid inefficiencies stemming from converting back to fiat currency for crypto trades.” DOI: https://doi.org/10.17016/2380-7172.3224