What do you think about fiat stable coins?

[_act_]

Did you read about the recent KGST listed on Binance? It is backed stablecoin pegged 1:1 to the Kyrgyz Som (KGS). I think it is backed by gold. The stable coin is a Kyrgyzstan stable coin definitely.

Binance said more of this will be coming.

I think it will be good if each country have its own stable coins and not just only about those backed by or pegged with United States dollars.

What do you think can be the disadvantages of each countries having their own stable coins?

With it I think more people will not need to rely on forex brokers anymore to access forex, although many exchanges have listed well known backed stable coins and tokenized RWA.

[TastyChillySauce00]

There is no disadvantage for each country to have their stablecoin in my opinion. I don't think it changes anything except that it might help bringing traditional finance capital to on-chain and could possibly disrupt remittance companies since people just gonna use the tokenized fiat a.k.a stablecoin.

The only concern here is how the backing reserve handled to mantain the peg and how it is getting audited since each country have their own law. I hope everyone of them is audited monthly and compliance with the regulation so that there is no such thing as depegging that could make people lost money.

[JeromeTash]

All i needed was to read what is written in part of the quoted text below to know that it is not as good as it looks. In fact, I personally don't think I would opt for it at all

Regulatory Oversight
The token issuance and operations are subject to strict regulatory supervision, including mandatory registration, audits, and ongoing compliance with financial authorities.

What is the point of using crypto if it behaves the same as fiat currencies. About the dollar dependence, yes countries should break away from it at all levels, but that does not mean that Cryptocurrencies such as Bitcoin carry a superior advantage as compared to fiat currencies.

[noorman0]

A major concern with existing stablecoins is excessive censorship. If a single country, single stablecoin were to become a reality, governments might have different codes to implement their own censorship. This would be a significant concern for ordinary users, especially as trade/tariff wars escalate. Imagine a token issuer freezing your tokens, or your address suddenly being flagged on various local platforms due to past use of another country's stablecoin.

[Taskford]

A major concern with existing stablecoins is excessive censorship. If a single country, single stablecoin were to become a reality, governments might have different codes to implement their own censorship. This would be a significant concern for ordinary users, especially as trade/tariff wars escalate. Imagine a token issuer freezing your tokens, or your address suddenly being flagged on various local platforms due to past use of another country's stablecoin.

This is the common issue but so far on KGST didn't here any reports about certain incident happens or maybe because none of yet been reported since this coin is new.

But people have this concern about this might became a tool for their government to control, they can also use it for sanctions exposure and also surveillance to their target individual or institutions in their country than financial tool for people.

Still let see if we could read such report happen to people use that stable coin.

[snowpega]

Did you read about the recent KGST listed on Binance? It is backed stablecoin pegged 1:1 to the Kyrgyz Som (KGS). I think it is backed by gold. The stable coin is a Kyrgyzstan stable coin definitely.

Binance said more of this will be coming.

I think it will be good if each country have its own stable coins and not just only about those backed by or pegged with United States dollars.

What do you think can be the disadvantages of each countries having their own stable coins?

With it I think more people will not need to rely on forex brokers anymore to access forex, although many exchanges have listed well known backed stable coins and tokenized RWA.

I would love to share my personal point of view here. I think this will be a great thing if every well-developed country has its own stablecoin, but what will do more good is that it should be backed by their own national currency. I believe that it will open a fair gateway to many of those people who are still unaware about the crypto space. They will then be able to make investments using their stablecoins in the crypto space. There is a fact that I believe that we all may have faced in our crypto space life experience.

That whenever we start to convince our elders or those who never knew about this space and once every government makes an official announcement, it will start to show on TV news channels that our elders believe most of it haha. And this thing will start to bring big capital into the crypto market; the reason behind it can be stablecoins. Well, in our country, the government is considering launching its own stable currency, so let's see how much time they will take to make it for public use.

[Stalker22]

So, arent central bank digital currencies (CBDCs) supposed to do exactly that?  I mean, isnt that the whole idea behind them?  Sounds like every central bankers dream to track every single penny you spend.

Think of them as tools for watching everything you do.  If we have national stablecoins, the government wont need a warrant to see what you have spent as they just have to look at their own blockchain.

What if the government decides your stablecoins expire to "boost the economy"?  Or they add a negative interest rate, so your savings disappear, unless you spend them?

[Dunamisx]

Maybe this could be the beginning of new other achievements, that will allow other countries follow the same and introduce their own fiat backed stablecoin, which they will have to depend on their own local currency than the conventional USD value most common, things are fast changing these days, maybe we could see more new developments this new year coming.

[Ivystar5]

You know I believe that since that can't hold the competition with crypto to fiat, they will begin to project competition with crypto to crypto which is stablecoins, now the use of stable coins or national currencies in crypto platforms as crypto will begin to be more popular as people can just pay each other intentionally with different currency and convert it to the countries currency at arrival, this is a propaganda that will likely be in comparison with crypto generally in few years to come, it's extremely dangerous how we are moving towards control system again after breaking out with bitcoin.

[jossiel]

IMHO, it's just the same with US dollar stable coins and I think that it targets the actual users from the said country where that stable coin has originated.

It seems that Binance is setting the trend for the upcoming year of 2026. We're seeing the trend not about the CBDCs which should be the label for these fiat stable coins.

Another thing is this is going to be another source of more printed money to buy for major cryptos like Bitcoin by the issuers of it.

[JeffBrad12]

So, arent central bank digital currencies (CBDCs) supposed to do exactly that?  I mean, isnt that the whole idea behind them?  Sounds like every central bankers dream to track every single penny you spend.

Think of them as tools for watching everything you do.  If we have national stablecoins, the government wont need a warrant to see what you have spent as they just have to look at their own blockchain.

What if the government decides your stablecoins expire to "boost the economy"?  Or they add a negative interest rate, so your savings disappear, unless you spend them?

CBDC is a failure and no one wants that, the infrastructure is costly and there is no guarantee anyone even gonna use it. Could be the main reason why they switched to stablecoin narrative now.
To be fair anybody can see our transaction through the blockchain explorer. It's nothing new and even without stablecoin we can be tracked. The main concern here is that, not every stablecoin issuer can be trusted.

All your concerns are valid in my opinion, knowing that stablecoin is fully centralized.

[Hispo]

It could be advantageous for people interested in doing business in their own currency, but I think those coins would not have as much volume as the united states dollar or the Euro.
For example, there could be people in developing countries like India, Venezuela or Argentina which have their money in local currency and do business in local currency, so this could be appealing to them, but in reality most people living in those countries would also like to have strong currencies which are not as affected by inflation. Argentina and Venezuela are very known examples of entire countries turning to the USA dollar to store their value in the short term.

Unless there is some official adoption being carried out by their official government, then i am afraid those stable coins will be left abandoned in favor of USDT, USDC and others alike.

[Ahli38]

Did you read about the recent KGST listed on Binance? It is backed stablecoin pegged 1:1 to the Kyrgyz Som (KGS). I think it is backed by gold. The stable coin is a Kyrgyzstan stable coin definitely.

Binance said more of this will be coming.

I think it will be good if each country have its own stable coins and not just only about those backed by or pegged with United States dollars.

What do you think can be the disadvantages of each countries having their own stable coins?

With it I think more people will not need to rely on forex brokers anymore to access forex, although many exchanges have listed well known backed stable coins and tokenized RWA.

Binance seems to be quite aggressive in listing tokens and even fiat stablecoins from various countries. Binance started doing this a few years ago. The IDRT token, where it is Indonesia's fiat stablecoi is also one of the tokens they have listed. I personally think that Binance and certain countries alike benefit from the existence of fiat stablecoins, where both can take advantage of the market through listings on one exchange or even possibly on other global exchanges. This will make it easier for traders from every country. I don't think there are any disadvantages for countries if they have their own stablecoins. But countries may experience disadvantages if their stablecoins encounter problems for various reasons. And perhaps network congestion could be one of them.

[programmer3666]

Globally, it has been very evident that countries are trying to reduce their dependence on US dollar for their international transactions so if Fiat Stablecoin can offer that opportunity! i sincerely believe many countries will jump on that ship but the only downside will be that a lot of them will not have enough liquidity and another thing is that the possiblity of it being trusted will mainly depend on how well it is backed by the government. As soon as people smell any funny mistrust behind it, the coin will lose value very quickly. One other key thing is that too many coin of these local stablecoins can throw some confusion into the market. so, the idea is a good one but for something like that to succeed, then it depends on the global acceptance and most importantly!! the level of transparency.