Countries such as Singapore are increasingly exploring non-dollar stablecoins as a way to enhance financial sovereignty. Fireblocks executive Dea Markova emphasizes the need for alternatives amid concerns from central banks in the EU regarding the risks associated with dollar-pegged tokens.
The European Central Bank advocates for a digital euro due to concerns surrounding the systemic risks of dollar-pegged stablecoins. Meanwhile, Tether’s USDT and Circle’s USDC form a significant majority of the stablecoin market cap, highlighting the regulatory need for new frameworks.
Leave a Reply