Stablecoins Become New Trend in Crypto

Global trading volume for stable coins jumped to $82bn in 2018, that is up from $12.5bn in 2017; in the 12 months to April 2019 trading has quadrupled, pointing to a new trends in the crypto universe; stablecoins are pegged to a stable asset like the dollar, 1 coin equals 1 dollar; traders have begun using stablecoins for liquidity since most cryptocurrencies are not accepted by banks; stablecoins have also had their fair share of issues, the biggest is Tether who was accused by the New York Attorney General of covering up $850mn in losses; eventually many believe stablecoins could help make lending and payments more efficient; two stablecoins, Gemini Trust and Paxos Trust, have been approved and regulated by the New York Department of Financial Services; the larger question of how mainstream adoption will be is still unanswered but stablecoins have had good early traction and regulatory wins. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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