US dollar to face growing competition for stablecoin dominance: Tether co-founder

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While United States dollar-denominated stablecoins dominate the stablecoin and real-world asset (RWA) tokenization game, other competitors are coming into play, according to Tether co-founder Reeve Collins. 

Speaking to Cointelegraph in Dubai, Collins said that while USD-backed stablecoins may currently dominate, other currencies and assets may compete to back stablecoins. He said: 

“The stablecoin definitely helps preserve the dollar dominance, especially in the crypto space. The dollar is kind of the reserve currency of crypto. But now there are…



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US dollar to face growing competition for stablecoin dominance: Tether co-founder


While United States dollar-denominated stablecoins dominate the stablecoin and real-world asset (RWA) tokenization game, other competitors are coming into play, according to Tether co-founder Reeve Collins. 

Speaking to Cointelegraph in Dubai, Collins said that while USD-backed stablecoins may currently dominate, other currencies and assets may compete to back stablecoins. He said: 

“The stablecoin definitely helps preserve the dollar dominance, especially in the crypto space. The dollar is kind of the reserve currency of crypto. But now there are…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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