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Title: Why are we not seeing more of Euro, yen or pound pegged stable coins? Post by: logfiles on September 23, 2019, 09:03:40 PM As you may have noticed, there are lots of stable coins pegged against the US Dollar. What surprises is that aren't any much stable coins pegged against other famous local currencies(if they even exist) yet there is steep competition among Dollar pegged ones.
Why is it that there are so many US Dollar pegged stable coins yet Euro or Pound sterling pegged stable coins to mention but a few are nowhere to be seen in the crypto sphere? Title: Re: Why are we not seeing more of Euro, yen or pound pegged stable coins? Post by: ahmadakbari on September 23, 2019, 09:19:29 PM I think the reason is popularity and power of Dollar. All the currencies are always compared with Dollar. In my opinion, instead of discussing about the reason of lack of a Euro-pegged stable coin, we should discuss why dollar is that powerful and why we always compare all the currencies with Dollar. I think first we should answer this. The answer to this question is same as the answer to your question.
Title: Re: Why are we not seeing more of Euro, yen or pound pegged stable coins? Post by: TastyChillySauce00 on September 23, 2019, 10:44:19 PM I think the reason is popularity and power of Dollar. All the currencies are always compared with Dollar. In my opinion, instead of discussing about the reason of lack of a Euro-pegged stable coin, we should discuss why dollar is that powerful and why we always compare all the currencies with Dollar. I think first we should answer this. The answer to this question is same as the answer to your question. Some exchange sites have already created the euro or another stable coin backed by another fiat like KRW. The problem is not so many exchange sites really need it to consider about they can still use wired transaction as a gateway to receive or send the fiat value. People are more familiar with the dollar value. Title: Re: Why are we not seeing more of Euro, yen or pound pegged stable coins? Post by: dcomomal on September 24, 2019, 08:50:42 AM First of all, there are too much stable coins anyway, it is getting annoying if somebody presents another USD based crypto currency to make himself rich. Secondly, there are enough stable coins that are EUR based.
Title: Re: Why are we not seeing more of Euro, yen or pound pegged stable coins? Post by: logfiles on September 26, 2019, 09:54:37 PM Some exchange sites have already created the euro or another stable coin backed by another fiat like KRW. The problem is not so many exchange sites really need it to consider about they can still use wired transaction as a gateway to receive or send the fiat value. Would you mind listing an exchange that has a Euro backed stablecoin... Am interested in knowing some. As for KRW, i think i have so far seen a couple of exchanges using itPeople are more familiar with the dollar value. Secondly, there are enough stable coins that are EUR based. Do you mind listing the Euro based stable coins please?Honestly, i haven't come across any. Maybe I am using the wrong exchanges. Title: Re: Why are we not seeing more of Euro, yen or pound pegged stable coins? Post by: romero121 on September 26, 2019, 10:14:51 PM
Title: Re: Why are we not seeing more of Euro, yen or pound pegged stable coins? Post by: logfiles on September 26, 2019, 11:03:32 PM
I understand USD is dominant globally but i would expect more different currency stable coins in the crypto world because the US dollar pegged stable coins are already too many. [/list] |