BIS and Bank of England launch Pyxtrial, a stablecoin monitoring project

The Bank for International Settlements (BIS) and the Bank of England have published the results of their “Project Pyxtrial,” which aims to monitor reserves of asset-backed stablecoins and tokenized assets. Pyxtrial is described as a proof-of-concept project and an “important first step.” The system is not yet fully ready to go live, and as its creators point out, neither is the world, as the regulations it will help enforce are still largely under development.