a16z says fintech-led won stablecoins would be more competitive than bank-led models

a16z Crypto head of policy and legal Miles Jennings said focusing on fintech firms rather than banks in issuing won-denominated stablecoins could create a more competitive market, while a bank-centered issuance model would differ little from the existing financial system. Speaking at the a16z Crypto Korea Summit held today, Jennings said the U.S. allows not only banks but also government-authorized nonbank operators to issue stablecoins, according to Money Today Broadcasting.