The leading banks of the USA took action for their own stable coins. Others, who set up the “USDF Consortium”, will enable some transactions such as bill payment in addition to the transactions on the stock market with their stable coins.
The most controversial investment instruments of recent times are undoubtedly crypto- moneys. While some see these investment tools as “bubbles”, others describe various crypto money projects, especially Bitcoin, as “the future itself”. Now, I will introduce you to the cryptocurrency community of the traditional finance industry. officially recognized Let’s talk about an unfolding development.
Among cryptocurrencies “stable coinsThere is a type we call “. Cryptocurrencies of this type are directly indexed to the value of a physical currency. For example, Tether (USDT), USD Coin (USDC) or Binance USD (BUSD). These stable coins are always traded around $1. and some investors can invest by buying stablecoins with a different physical currency. USA’s leading banks On the other hand, they took action to create their own stable coins.
It will be an alternative to third-party stablecoins
US banks for their stablecoins “USDF ConsortiumThe members of the consortium include financial institutions such as New York Community Bank, Sterling National Bank, Synovus Bank, FirstBank and NBH Bank, as well as companies such as Figure Technologies and JAM FINTOP. to expand its use and they will try to get people to adopt this cryptocurrency.
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The stable coin to be built on Provenance Blockchain, in addition to transactions on crypto money exchanges, money transfer between individuals or businesses and paying bills It will be used in many fields such as The stable coin, which will only be produced by the consortium member banks, is actually US banks’ digital dollar will appear as
This content is not investment advice.
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