FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/File Photo
LONDON (Reuters) - Decentralised finance catering for cryptoassets could undermine financial stability if it gained traction and more safeguards are needed, the Bank for International Settlements said in its quarterly review on Monday.
So-called DeFi platforms allow users to lend, borrow and save, usually in cryptoassets and stablecoins, while bypassing traditional, centralised gatekeepers of finance such as banks.
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