Today, most larger economies have developed and implemented comprehensive regulations for stablecoin issuers and the stablecoin. Whilst these regulations are not exactly carbon copies of each other, they are variations over the same basic principles.

I suggest there is a specific such variation — not yet implemented anywhere — that unlocks what I will call a “stablecoin superhero mode”: a variation in which stablecoins become rock-solid, pure payment instrument and public utility, and become part of the solution for climate change financing.

The Stablecoin Superhero Mode rules

  1. Stablecoins must be backed 80% by high-quality climate assets (HQCA), with the remainder in cash.
  2. HQCA is senior, secured, very-long-term, very-low-yield bonds issued on climate change infrastructure.
  3. The Central Bank provides all stablecoin issuers with a liquidity facility such that HQCA collateral can be exchanged for liquidity (with a haircut) instantly.
  4. The stablecoin provider must pre-position their HQCA collateral with the Central Bank on a continual basis.
  5. The stablecoin issuer must ensure all outstanding stablecoins can always be 100% covered by their holdings of cash and HQCA collateral after haircuts.
  6. Stablecoins cannot pay any yield — directly or indirectly — to stablecoin holders.

I think this would create exactly the right kind of stablecoin: one that would have a real positive impact on the world and set the stablecoin right in terms of its place in the financial institutional complex.

The choices (and concepts) in this “superhero rule set” deserve some explanation, and I will endeavour to set these out in a few quick articles over the coming weeks.

Comments, questions, whatnot — all very welcome.

Originally published on LinkedIn, March 2026.