The Bank for International Settlements (BIS) and the Bank of England have released the results of their "Pyxtrial project", which aims to monitor the reserves of asset-backed stablecoins and tokenized assets. Pyxtrial is described as a proof-of-concept project and an "important first step". The system is not yet fully ready to go live, and as its creators point out, the world is not yet ready either, as the regulations it will help enforce are still largely being worked out.