Why are we not seeing more of Euro, yen or pound pegged stable coins?

[logfiles]

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?

[ahmadakbari]

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.

[TastyChillySauce00]

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.

[dcomomal]

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.

[logfiles]

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.

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 it

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.

[romero121]

• These days USD were printed without any restrictions which makes the development
  of USD pegged stablecoins an easy thing
• Most of the countries have USD as the reference to the value of their own local fiat
• When it comes to Euro it is preferred only on European Countries
• USD being universally dominant with more than 50%  even though there is Euro and
  Yen which also gets used as the global reserve in the world

[logfiles]

• These days USD were printed without any restrictions which makes the development
  of USD pegged stablecoins an easy thing

Then i believe creating Euro pegged coin would also be a lot easier. We have a number of exchanges that originate from Euro but you never see them have Euro pegged stable coins

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]