"The margin is there to protect against counterparty credit risk," said Cunliffe, who has led international work on stablecoin standards. "If the transaction happens in a nanosecond, then you have nanosecond counterparty credit risk."
"The margin is there to protect against counterparty credit risk," said Cunliffe, who has led international work on stablecoin standards. "If the transaction happens in a nanosecond, then you have nanosecond counterparty credit risk."