Emanuela Saccarola
speaker
245 appearances
1 recordings
1 series
first heard Nov 2025
last heard 13 Nov
Emanuela Saccarola’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Nov 2025 with 1.
Appearances
And I'm an economist by training, so I go back to the basics.
So we have forms of money in the ecosystem.
We have central bank money, which is M0, and we have commercial bank money, which is M1.
And now we have stable coins, which is another form of money.
It is kind of something, it's not M1, it's not M0, but it's been accepted.
So digital assets have the potential to have a very deep impact on fundamentals or monetary policy, banking system, payment systems.
And I always say banks have a role and they have multiple roles.
One is to make payments.
So they move money across geographies, but they also move money across time.
And it's something that we don't necessarily think about.
But when you have a deposit, you can use it to pay your coffee and your daily, you go to an ATM machine.
Cash is obviously there.
simpler version of that deposit.
But you also have most likely a 30-year mortgage on your house, and that's the lending power of banks, which are making those liabilities into assets.
And that is somewhat disrupted by digital assets, in particular by stablecoins, because they're quite similar, but not quite the same as M0 and 1.
So it is a new form of money that is evolving, and there is a lot that we need to think about as an industry
how we manage it, how we regulate it, and how we integrate them into the economy and into financial services, again, retaining safety and stability.
Yeah, so AI and payments.
So I was saying that AI has quite a broad impact on the financial services, on everything that we do, really.
But let's talk about payments and financial services in particular.
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