<ul data-eligibleForWebStory="false"><li>Amundi Asset Management Group's Chief Investment Officer Vincent Mortier believes the surge in dollar-backed stablecoins could destabilize the global payment system.</li><li>Mortier expressed concerns that stablecoins could shift money flows, weaken the U.S. dollar, and function as 'quasi-banks' with potential repercussions for the global payment infrastructure.</li><li>As U.S. lawmakers advance the GENIUS Act to regulate stablecoins, concerns about illicit finance risks associated with stablecoins have been raised by entities like the Financial Action Task Force and the Bank for International Settlements.</li><li>Stablecoins face challenges related to regulatory oversight, financial stability, and user experience, according to industry experts and reports.</li></ul>

Amundi Chief Investment Officer Says Stablecoins Threaten Global Payment System

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