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by sunshine-o
4 hours ago
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> Stablecoins are not backed by a central bank. Instead their source of value comes from a private company that holds actual US dollars or USD-equivalent reserves (like treasury bills, etc). Yes but the problem is there are already a lot of US dollars and the pandora box was opened since the end of WW2 at least. Is the US dollar you hold in a bank outside of the US the same as the one in the US? no... Are they all insured and backed by the Federal Reserve? absolutely not. In a sense if you are abroad the USDC you get from Circle on a blockchain are much closer to a "real" dollar than most of us can get their hand on. |
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