According to Odaily, the Bank for International Settlements (BIS) and the Bank of England have unveiled the results of their 'Pyxtrial Project,' which aims to monitor the reserves of asset-backed stablecoins and tokenized assets. Described as a proof-of-concept project, Pyxtrial is considered an 'important first step.' However, the system is not yet fully ready for deployment. The creators of the project have noted that the global regulatory framework, which the system will help enforce, is still largely under development.
