Topic: Saga Stablecoin Goes Live Backed by Basket of Fiat Currencies (Read 108 times)
There are already a boatload of stablecoins put there and now another basketful has been added, the stablecoins in the market works just fine for me and I don't think I would want to add more to my collection, I am especially partial to the ERC-20 USDT and the USDC stablecoin and TUSD, haven't used any other stablecoin though, those ones are listed in most top exchanges.
Same was purpose of libra stable coin right (backed by basket of currencies), apparently libra got nuked by regulations, someone else had to take the initiative 
Edit: oh nvm, "the basket-backed stablecoin envisioned last year by the Saga Foundation" — they were ahead of libra then.
Edit: oh nvm, "the basket-backed stablecoin envisioned last year by the Saga Foundation" — they were ahead of libra then.
It is a trend to create more and more stablecoins, but what is the reason behind it? How they profit on it? Maybe all stablecoin creators are using a small amount of unbacked tokens for their own needs? That would be very very dangerous! 
With the stable coin you can create various service and you must take a look at DAI and that has made its own lending service use DAI as the main coin to be used as a payment system on its platform. What they need to prove the reserved funds and that's enough to show the credibility of the company. that's a new stable coin and we will see how much stable coin that owned by the company.
It's just an early step to promote its stable coin.
Dude, that needs a lot of time. That's why a new stable coin must be audited.
It is a trend to create more and more stablecoins, but what is the reason behind it? How they profit on it? Maybe all stablecoin creators are using a small amount of unbacked tokens for their own needs? That would be very very dangerous!
Saga Monetary Technologies has finally launched its SGA stablecoin, and it's already planning to break away from its pegged basket of currencies.
https://www.coindesk.com/basket-backed-saga-stablecoin-goes-live-in-the-uk
https://www.coindesk.com/basket-backed-saga-stablecoin-goes-live-in-the-uk
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