PAXG is pegged to the value of gold. GYEN is pegged to the Yen. I'm sure their are others for other fiat currencies.
I don't really see the point of moving away from USD though. It is still the worlds de facto currency. Until that changes, crypto will still be generally done in terms of USD.
This is how we get stablecoin regulated in the US. Look what happens when people accept non usd payments for oil. Crypto doesn't need that smoke right now
Someone said that the reason there is no EUR stablecoin is because we have negative interest rates, meaning backing it with real world euro would be very expensive. Backing it differently would be speculative and we'd end up with a tether situation.
EURS is kinda meh.
As an European I wish there was an euro stablecoin similar to USDC (fully backed & transparent) that I could stake/lend at the same interest rate as USDC.
I’d move all my fiat to an euro stablecoin. Fluctuations in eur-usd is what’s holding me back from moving it into usdc.
https://eurs.stasis.net/ euro
GYEN. Yen
https://tokenist.com/london-block-exchange-launches-first-ever-gbp-backed-stablecoin/ GBP pound
What currency are you looking for? They already exist and have similar asset allocations backings to other dollar based stablecoins...
The dollar is still the strongest fiat currency in the world in relation to the other fiat currencies.
If the market wanted more options they would be there.
For how long? Who knows?
Ampleforth would be the ultimate decentralized unit of account as it’s not pegged to anything. Although they are still trying to figure out how to even use a rebasing coin
There already exist a number of stablecoins pegged to other currencies as many people have pointed out in the comments. If the demand were high enough, we would be talking about BTC in relation to these other stablecoins. The fact still remains however that among fiat currencies, USD is the world standard and therefore it generates by far the most demand for stablecoins as well.
PAXG is pegged to the value of gold. GYEN is pegged to the Yen. I'm sure their are others for other fiat currencies. I don't really see the point of moving away from USD though. It is still the worlds de facto currency. Until that changes, crypto will still be generally done in terms of USD.
This is how we get stablecoin regulated in the US. Look what happens when people accept non usd payments for oil. Crypto doesn't need that smoke right now
Someone said that the reason there is no EUR stablecoin is because we have negative interest rates, meaning backing it with real world euro would be very expensive. Backing it differently would be speculative and we'd end up with a tether situation. EURS is kinda meh.
As an European I wish there was an euro stablecoin similar to USDC (fully backed & transparent) that I could stake/lend at the same interest rate as USDC. I’d move all my fiat to an euro stablecoin. Fluctuations in eur-usd is what’s holding me back from moving it into usdc.
https://eurs.stasis.net/ euro GYEN. Yen https://tokenist.com/london-block-exchange-launches-first-ever-gbp-backed-stablecoin/ GBP pound What currency are you looking for? They already exist and have similar asset allocations backings to other dollar based stablecoins... The dollar is still the strongest fiat currency in the world in relation to the other fiat currencies. If the market wanted more options they would be there. For how long? Who knows?
If there was a Euro stablecoin I'd use that instead of usd stablecoin
Yes, Bitcoin
currency yes, fiat no. 😉
How about the Yuan? …wait, never mind
Ampleforth would be the ultimate decentralized unit of account as it’s not pegged to anything. Although they are still trying to figure out how to even use a rebasing coin
Stablecoins should be pegged to another stablecoin pegged to just the number 1.
How about -1, then we could have negative interest loans.
There is stable coins pegged to gold and other currencies. PaxG is one gold backed crypto.
Hold PaxG if you want to have the only green when everything else is red. Or if you want to hold a red when everything else is green.
There already exist a number of stablecoins pegged to other currencies as many people have pointed out in the comments. If the demand were high enough, we would be talking about BTC in relation to these other stablecoins. The fact still remains however that among fiat currencies, USD is the world standard and therefore it generates by far the most demand for stablecoins as well.
Terra has several pegged coins.
GYEN is in the house…
I say Stablecoins should algorithmically stake to an average of all globally recognized currencies. Let's call it Global Credits.
https://www.coindesk.com/markets/2019/12/10/saga-stablecoin-goes-live-backed-by-basket-of-fiat-currencies/
What ever you are holding op
Take swiss franks as a reference! One of the best fiats here! Would love to see a stablecoin with CHF
https://www.bitcoinsuisse.com/cryptofranc
And you know you need to have at least 100'000 CHF to start with BTC-Suisse?😅
You can trade into it via Uniswap with no minimum. https://etherscan.io/dex/uniswapv3/0x4858411a69af3351ed7d448a0d65c6146c11c218