Stefano Scarpetta

Stefano Scarpetta is OECD Chief Economist and Head of the OECD Economics Department. An economist and Italian national, he previously led the OECD’s Employment, Labour and Social Affairs Directorate and worked as a labour-market adviser and lead economist at the World Bank.

Stablecoins and Tokenization Could Cut Payment Costs, but Safeguards Lag

OECD Chief Economist Stefano Scarpetta argues that distributed ledgers, stablecoins and tokenized assets could reduce payment costs and widen access to financial markets, but that those gains depend on safeguards, clear accountability and systems that work across borders. Speaking with Steven Davis at the Jackson Hole Economic Policy Symposium, Scarpetta also points to nearer-term benefits from digital payment records, which could help lenders assess small businesses. The technology’s promise, he says, does not remove the need to protect consumers and manage risks to financial stability.

Hoover InstitutionOct 2, 20268 min read