Most blockchain pilots are cautious. Companies run the lowest-risk version they can, and it's often led by the people least convinced the technology will pay off.
The real change starts at origination. Issue the equity or originate the loan on-chain, and everything after it, including verification and servicing, runs against that record.
Some intermediaries are no longer needed. The rest work from that record instead of keeping their own copy.
FASB has proposed treating some stablecoins as cash equivalents.
Qualifying depends on the issuer. Holders redeem on demand, and the issuer holds reserves one-to-one in cash and short-dated Treasury bills.
Which stablecoin a payout rail defaults to becomes a reporting decision.
https://t.co/EJvFJgXbH8