Sunday, May 26, 2024

Tag: Stablecoin

According to reports, the Central Bank of Iran and the Russian government are working together to issue a new stablecoin that is backed by gold to be used in overseas trade.
As the Terra stablecoin becomes depegged from the U.S. dollar, the biggest buyer of bitcoin in recent months could become its biggest forced seller.
My thinking on stablecoins has evolved greatly since I started writing about them four years ago. There are things I’ve gotten right (their emergence as a killer app for blockchain), things I’ve gotten wrong (the viability of Dai), things I was early on (adoption for vanilla payments) and things I remain conflicted on, like the viability of the undercollateralized AKA algorithmic variety.