Noelle Acheson

The systemic risks posed by stablecoins on public blockchains go further than deposit flight and market dislocation — there's also technology risk. But Noelle Acheson argues that these should be incorporated into guardrails rather than used to stop progress.

Two reports out earlier this month come to very different conclusions as to the feasibility of public blockchains for finance; the differences matter for global stablecoin adoption.

Noelle Acheson argues that banks' focus on deposit tokens rather than stablecoins is a clear example of the "innovator's dilemma" at work: few economic incentives to embrace the innovation happening at the periphery.

Noelle Acheson points out that a wander through stablecoin history highlights an overlooked use case likely to be of interest to financial services providers.

Noelle Acheson argues that stablecoins can help community banks deepen relationships with their customers, help them explore new forms of capital formation and strengthen their own exposure to risk.

Tokenized money market funds are becoming more money-like — but, unlike the payment stablecoins that share the same backing, they are securities. Noelle Acheson looks at what this means for our understanding of money.

The crypto crash highlighted an overlooked aspect of stablecoins: They have both a stable value and a market-traded price, but the two don't always match. What does the risk of de-pegs mean for payments?

Noelle Acheson argues that growing demand for dollar-denominated stablecoins is going to give the Treasury Department increasing influence over the direction of the U.S. economy, perhaps at the cost of the Federal Reserve.

A world of hundreds if not thousands of stablecoins sounds chaotic – but that's because we're still thinking of stablecoins as money. Consider their potential for strengthening customer loyalty and engagement.

Crypto-linked cards are seeing strong volume growth despite offering little more than a crypto add-on to traditional payments systems — but familiarity is often a backdoor to more profound changes.

Noelle Acheson explains how on-chain vaults, born in decentralized finance, could shape the centralized banking of tomorrow.

Noelle Acheson questions the optimistic forecasts of global dollar stablecoin adoption, pointing out that they overlook the friction of local politics.

As stablecoins become an increasingly prominent feature of the financial landscape, Noelle Acheson gives us her top five trends to watch out for.

Noelle Acheson shares her top 4 stablecoin trends of 2025 and what they taught us about the changing nature of money.

Banks are unlikely to get the language of the GENIUS Act amended to better defend deposits. But Noelle Acheson explains how that doesn't mean they won't get what they want.

Recent weeks have seen a flurry of stablecoin risk reports from international finance institutions. Noelle Acheson deduces what's really going on here.

What is a dollar? Noelle Acheson highlights how stablecoins are underlining the ways in which the absence of an official definition can have geopolitical and macroeconomic consequences.

Noelle Acheson looks at recent proposals to allow payment institutions access to central bank liquidity, and what this could mean for both banking and economic resilience.

Noelle Acheson explains the significant differences between tokenized deposits and deposit tokens, and why it matters for the future of banking and payments.

Fintechs and banks approach innovation from different starting points. Noelle Acheson points out that this can be seen in their approach to payments, and now also in the approach to stablecoins.