According to BlockBeats, on August 1, the Bank for International Settlements (BIS) and the Bank of England released the results of the "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 isn’t quite ready to go live yet, nor is the world, as the regulations it will help enforce are still largely under development.