[beatle_sauce]

> It isn’t known, even to some members of the consortium, how the coin will work or what their roles will be, people familiar with the project said.

Such a stablecoin still requires a regulatory approval process before roll-out.

Just as a reminder that there are open alternatives, GNU Taler would offer a more privacy-oriented stablecoin with an already clear specification, but has not yet been adopted by banks that require the regulatory approval. On the mailing list, the developer wrote that they work on the two missing features needed for approval (cross-device synchronization and an integrated backup solution).