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Here you will find all posts tagged stablecoin

About stablecoin ℹ️

A stablecoin is a type of cryptocurrency that is designed to have a stable value relative to a fiat currency or another asset, such as gold or a basket of commodities. Unlike traditional cryptocurrencies like Bitcoin, which can experience significant price volatility, stablecoins aim to provide stability and predictability in value, making them suitable for various use cases such as transactions, savings, and investments. There are several mechanisms used to maintain the stability of stablecoins. Fiat-collateralized stablecoins: These stablecoins are backed by reserves of fiat currency, such as the US dollar or the euro, held in bank accounts or custodial accounts. Each stablecoin in circulation is typically backed by an equivalent amount of fiat currency held in reserve, providing a 1:1 peg to the underlying asset. Crypto-collateralized stablecoins: These stablecoins are backed by reserves of other cryptocurrencies, such as Ethereum or Bitcoin, held in smart contracts or decentralized protocols. The value of the stablecoin is maintained through overcollateralization, where the value of the collateral exceeds the value of the stablecoin in circulation. Algorithmic stablecoins: These stablecoins use algorithmic mechanisms to adjust the supply of tokens in circulation in response to changes in demand, with the goal of maintaining a stable value. Algorithms may use mechanisms such as seigniorage shares, bonding curves, or algorithmic rebasing to stabilize the price of the stablecoin. Stablecoins offer several benefits compared to traditional cryptocurrencies, including reduced volatility, increased liquidity, and improved usability for everyday transactions. They are often used as a hedging tool by traders and investors, as well as a means of transferring value across borders quickly and cost-effectively. However, stablecoins also pose risks and challenges, including regulatory scrutiny, counterparty risk, and the potential for market manipulation. Despite these challenges, stablecoins have gained widespread adoption and acceptance, with billions of dollars' worth of stablecoins in circulation and growing interest from both retail and institutional users. Overall, stablecoins play a crucial role in the cryptocurrency ecosystem, providing stability and utility in an otherwise volatile and rapidly evolving market. As the demand for stablecoins continues to grow, they are likely to play an increasingly important role in the future of finance and commerce.

Brian Armstrong's Visionary Roadmap for the Future of Cryptocurrency

Brian-Armstrong-Future-of-Crypto Brian Armstrong - CEO of Coinbase

Brian Armstrong's Crypto Vision 2023: The Future Blueprint for Decentralized Finance

Jerome Powell: The US Fed treats payment stablecoins as money

Jerome-Powell-stablecoins-as-money Jerome Powell - The US Federal Reserve Chairperson

US Federal Reserve Acknowledges Stablecoins as Currency: A Bold Move by Jerome Powell

Christine Lagarde: Stablecoins can threaten financial stability

Christine-Lagarde-Stablecoins Christine Lagarde - President of the European Central Bank

The head of the European Central Bank (ECB) Christine Lagarde noted the advantages of state digital currencies and expressed concerns about the spread of stablecoins.

Coinmetrics: stablecoin capitalization grows by $ 100 million a day

stablecoin-capitalization-grows-by--100-million-a-day Coinmetrics: stablecoin capitalization grows by $ 100 million a day

According to the analytical portal Coinmetrics, the boom of decentralized financing projects also affects stablecoins - the capitalization of the stable cryptocurrency market is growing by about $ 100 million per day.    

"Everyone got so excited about DeFi no one pointed out that stablecoins have been adding $100m/day since mid-July. DeFi yields/interest rates are clearly a vacuum sucking in a lot of stablecoins," Coinmetrics co-founder Nic Carter wrote on Twitter.

Facebook will release its own cryptocurrency GlobalCoin in 2020

Facebook-will-release-GlobalCoin-in-2020 Facebook will release its own cryptocurrency GlobalCoin in 2020

The world's largest social network Facebook plans to release its own cryptocurrency called GlobalCoin next year.

According to the BBC, Facebook will launch a system of cryptocurrency payments in the "dozen countries" by the first quarter of 2020. The company intends to begin testing the system by the end of this year. More information about Facebook plans will appear in the coming months.

Board member of the ECB: “Stablecoins have more potential than Bitcoin”

Francois-Vilrua-de-Galo-Stablecoins-have-more-potential Francois Villeroy de Galhau | Governor of the French Central Bank

The Governor of the French Central Bank and member of the Governing Council of the European Central Bank Francois Villeroy de Galhau said that the stablecoins have more potential than Bitcoin.

According to Bloomberg, Francois Villeroy de Galhau, in addition, believes that cryptocurrencies tied to fiat money, will benefit the global financial apparatus. 

WSJ: Facebook plans to create a full-featured payment system based on stablecoin

Facebook--payment-system-based-on-stablecoin WSJ: Facebook plans to create a full-featured payment system based on stablecoin

Stablecoin, which is allegedly developing the social network Facebook, will serve as the foundation for the creation of a new payment system.

Project Libra - the internal name of the new blockchain-initiative Facebook - will use a stable cryptoasset, secured by fiat currency. Various sources report that the company is already working on attracting financial companies that will support the project.

Clem Chambers: “the cryptocurrency winter is over, the price of Bitcoin will rise”

Clem-Chambers-the-cryptocurrency-winter-is-over Clem Chambers | General manager of ADVFN

Clem Chambers, general manager of the ADVFN financial market website, believes that the cryptocurrency winter is over and the price of Bitcoin will rise to $ 10,000 by the end of the year.

"All last year I said that Bitcoin would fall to $ 2.500. As a result, his quotes stopped at $ 3.000. Now he started to grow and I think his first goal is $ 6.000, and then $ 10.000," he said in interview to Forbes. "At the moment, we can safely say that the cryptocurrency winter is over. Here is my forecast."

Tim Draper is considering investing in Facebook Coin

Tim Draper is considering investing in Facebook Coin Tim Draper - renowned American venture capitalist

Well-known venture investor and cryptocurrency enthusiast Tim Draper plans to meet with Facebook top managers in order to discuss the possibility of investing in the new stablecoin.

Media: Facebook is preparing to launch its own cryptocurrency

Facebook-is-preparing-to-launch-its-own-cryptocurrency Media: Facebook is preparing to launch its own cryptocurrency

The New York Times, citing anonymous sources on Facebook, reports that the largest social network has already prepared the launch of its own cryptocurrency and is already in talks with the exchanges on listing.

It is reported that we are talking about stablecoin under the brand of messenger WhatsApp. The new coin will be pegged to the US dollar and used for domestic and international transfers between friends and family members via instant messenger. In the future, Facebook users and Instagram users, whose audience counts in billions of users, will also be able to use the stablecoins.

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