The Bank for International Settlements (BIS) and Bank of England have released the results of their Project Pyxtrial to monitor the reserves of asset-backed stablecoins and tokenized assets. Pyxtrial is described as a proof-of-concept and an “important first step.” The system is not entirely ready for launch and, as its creators noted, the world isn’t ready for it either, as the regulations it would help enforce are largely still being formulated. Merging two data flowsThe solution is made up of a data model, database and application programming interfaces (APIs). Processed data would be avail…