Can stablecoins be able to prevent de-dollarization? - page 4.

Despairo

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Quote from: https://newsroom.paypal-corp.com/2023-08-07-PayPal-Launches-U-S-Dollar-Stablecoin

PayPal USD is designed to contribute to the opportunity stablecoins offer for payments and is 100% backed by U.S. dollar deposits, short-term U.S Treasuries and similar cash equivalents. PayPal USD is redeemable 1:1 for U.S. dollars and is issued by Paxos Trust Company.

According to their article, their stable coin is 100% backed by U.S. dollar, so how can PayPal stable coin is preventing de-dollarization? if the stable coin really backed by U.S. dollar, it's actually still supporting USD but in different form.

I think almost all stable coin is using US dollar, treasury, etc as underlying value, only few stable coin is using other fiat due to low interest.

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Lightning network is good with small amount of BTC

Quote from: zasad@ on August 13, 2023, 05:58:59 AM

the McHenry bill is passed in the US, will it strengthen the dollar as the world's reserve currency?

The USD stable coins are backed and pegged mostly with fiat USD, that means as more people are buying the stable coins, the company that are offering the stable coins will buy more USD fiat. People across the world can buy the stable coin easily on exchanges and this is increasing the strength of USD as a foreign reserve.

zasad@

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You know that PayPal has already launched its own stablecoin.
The company Circle and Tether uses a dollar stablecoin, which is used not only by American companies. If the McHenry bill is passed in the US, will it strengthen the dollar as the world's reserve currency?

Topic: Can stablecoins be able to prevent de-dollarization? - page 4. (Read 615 times)