According to CoinMeta, and as reported by Reuters, the Bank for International Settlements (BIS) stated that 63 central banks believe stablecoins are not real currency and lack the credibility for large-scale payments. The BIS governor is advocating for the tokenization of bank deposits. Although he acknowledges that stablecoins may reduce borrowing costs in the United States, he warns that US dollar tokens could threaten other countries' control over their own currencies.