Stablecoins
- On 10th October 2025, a group of leading banks—including Bank of America, Citi, Deutsche Bank, Goldman Sachs, and UBS—announced plans to collaborate on exploring the creation of stablecoins pegged to G7 currencies.
- Stablecoins are blockchain-based digital assets designed to maintain a stable value relative to fiat currencies, commodities, or other assets, distinguishing them from other volatile virtual digital assets.
- They achieve stability through three main mechanisms: fiat-backed reserves (e.g., USDT, USDC), crypto-backed collateral (e.g., DAI), or algorithmic adjustments that manage supply and demand.
- Stablecoins enable faster, cheaper, and more transparent transactions compared to traditional banking, with cross-border transfers settling in ....
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