Stablecoins Growing in Popularity, Showing Potential to Replace Fiat Later On

News
Wed, 10/10/2018 - 12:36
Yuri Molchan
Stablecoins, backed by physical assets, seem to be the way to link the fiat assets to digital ones. Their popularity is growing from day to day at a great pace
Cover image via U.Today

Stablecoins, backed by physical assets, seem to be the way to link the fiat assets to digital ones. Their popularity is growing from day to day at a great pace.

The great growth in the demand is prompting various startups and financial institutions to release their own stablecoins and get a piece of this cake.

The overall market of stablecoins amounts to $3 bln. That is less than two percent of the digital asset market. Tether is the most highly valued stablecoin since it has grabbed 93 percent of the total market value.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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