Why are Exchanges Launching StableCoins Market.

[MOBbrothers]

Currently some top exchanges have decided to launch their Stable coins instead of using the Tether.  Huobi has launched HUSD. Binance Launched a stable coin but choose to call it a new stablecoin market USDⓈ. they are yet to list the market pairs.

What is the reason behind this latest?

[OmegaStarScream]

They're a business so this should be profitable for them in one way or another. It's also good for us as a community because at least this way, we know there are multiple sources of stable coins.

We've seen some news regarding Tether in the past and the impact it could have on the bitcoin price. So having this instead of Bitfinex controlling everything is definitely a good thing IMO.

[MuhNofa]

I think they want to get additional benefits through the new coin. because as we know the new coins must not all be released / released to the market their developers must save a few % of the total supply of coins and I think they can benefit from a few % earlier

[BitHodler]

It's largely a hype driven market we're in, so more stablecoins is what we can expect and we got it. I'm sure there is a load more to come because every service will look to have its own coin.

The main innovation is the interoperability between exchanges in terms of 'fiat' transfers, and also making things easier for arbitrage traders. I'm not touching any myself, but the need for something like this is there.

Let's hope USDC will increase its market share in the coming years and dethrone USDT once and for all. The sooner we do that, the less impact an implosion of USDT will have on this industry.

[dothebeats]

Seamless transfer of funds in between exchanges without having to exchange into real fiat and/or moving your assets without disturbing its value is what I see stablecoins offer. They offer a temporary 'hedge' on a trader's assets when the trader wishes to not trade atm and doesn't want to lose any value his/her assets hold. In a way there's a good reason for introducing stablecoins but then its legality and stability has been questioned numerous times simply because they are claiming that they are 'backed' by true currencies or any other assets they claim. I haven't used one nor planning on using one but I guess the demand is there so they are creating multiple stablecoins, but I'm somewhat interested on what steps would an exchange take should there be any complications that happened with their stablecoins along the way

[apityeh71]

There are  different stable coin on the market and some of them has fully regulated, comply with regulation and auditable. And crypto exchange should be add it to make crypto ecosystem much better.

[beerlover]

Because tether has fall out of grace from crypto space and people do not trust tether as much as they used to and they should not trust it anyway since they are a shady company who just took everyones money and said "its here" on some bahamian drug cartel bank, they could be making millions of dollars just due to savings interest rates from all of our money and still failed to work with a proper bank in a proper country.

However, that doesn't mean exchanges want to send money to your bank account directly, coinbase does that and there are some around the world but the big ones like poloniex and binance and bittrex and so forth wants to use stablecoins to allow you to keep your money in dollars with the luxury of not sending dollars to you at the same time hence they are using stablecoins for that purpose.

[nicolas1979]

Currently some top exchanges have decided to launch their Stable coins instead of using the Tether.  Huobi has launched HUSD. Binance Launched a stable coin but choose to call it a new stablecoin market USDⓈ. they are yet to list the market pairs.

What is the reason behind this latest?

Stable coins is good sign for investment method, by using this strategy exchange can keep their system running and raise their capital to increase performance. " Hold " investor fund is very important for exchanges and I believe is this program/ project success it will become new trends. People will not confuse to replace their money and wait until reach take profit area with big patience. Try stable coins only use your own fund because mostly using long term period to reach the top.

[Wind_FURY]

OP, why would they trust a centralized, permissioned stable "coin" issued by another exchange, when they can print their own, and distribute that?

Next might be the lobbying of regulators by executives to "kill" all its stablecoin's "competitors", including Bitcoin.

[Goodvalony]

every plan do have an effect. i should be better if these exchanges can convert their tokens to a fixed price and use it as a means of trade in their exchange. creating a stable coin to pedge with the dollar might not work well because we will have a lot of stable coins in the market just like we have over 100 exchange platforms. i wonder how the market will look like if all these exchanges introduced their stable coin.

[Ranly123]

Currently some top exchanges have decided to launch their Stable coins instead of using the Tether.  Huobi has launched HUSD. Binance Launched a stable coin but choose to call it a new stablecoin market USDⓈ. they are yet to list the market pairs.

What is the reason behind this latest?

It's all about business, pairing in BTC or ETH is goo but with an addition of Fiat pairs it would make the trade more accurate. Though some would prefer a pairing in crypto to crypto but we should adopt in current market where in paring with BTC would spend them lots of it and cannot gain profit if bullrun start.

[Forbiddenone]

For me it doesn't matter,even if we have variety of stable coin and I just want a stable coin to exchange.as we are seeing competition btw exchange so they are just branding coin associated with them.

[@Hakermania@]

The stablecoin allow stability to your capital if you do not want to see it float inbetween the high volatility .. the stable coins generate trust and attract new investors

[nelson4lov]

The primary goal of stablecoins is to reduce or stop irregular price volatility associated with Cryptocurrencies. Exchanges do this by pegging it to a USD value. They do this to keep the price closer to usd as much as possible. Stablecoins are important for traders and crypto users to preserve their usd holdings value

[1Referee]

The primary goal of stablecoins is to reduce or stop irregular price volatility associated with Cryptocurrencies. Exchanges do this by pegging it to a USD value. They do this to keep the price closer to usd as much as possible. Stablecoins are important for traders and crypto users to preserve their usd holdings value

Stablecoins don't reduce the volatility of crypto at all. It's just a token that should replicate the functions of regular fiat currencies, but add certain advantages for traders. Quick movements between exchanges 24/7 is the main advantage, and the very fact that stablecoins are more likely to stay within the crypto ecosystem during bear markets, while fiat currencies are more likely to be withdrawn back to people's bank accounts.

Stablecoins is money in the market waiting to enter, and you can be sure that it will eventually.