BISWorkingPapersNo1270StablecoinsandsafeassetpricesRashadAhmedandIñakiAldasoroMonetaryandEconomicDepartmentMay2025JELclassification:E42,E43,G12,G23Keywords:stablecoins,Treasurysecurities,moneymarketfunds,safeassetsBISWorkingPapersarewrittenbymembersoftheMonetaryandEconomicDepartmentoftheBankforInternationalSettlements,andfromtimetotimebyothereconomists,andarepublishedbytheBank.Thepapersareonsubjectsoftopicalinterestandaretechnicalincharacter.TheviewsexpressedinthemarethoseoftheirauthorsandnotnecessarilytheviewsoftheBIS.ThispublicationisavailableontheBISwebsite(www.bis.org).©BankforInternationalSettlements2025.Allrightsreserved.Briefexcerptsmaybereproduc...