Private money and public debt. U.S. Stablecoins and the global safe asset channel (ECB Working Paper Series No 3174)

Private money and public debt. U.S. Stablecoins and the global safe asset channel (ECB Working Paper Series No 3174) https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp3174~d4cc1da5a8.en.pdf