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Another One Bites the Dust

Words by Krypto Walker

Avg. 1 Min read

How XDC-powered EURS withstands market turmoils, while others fall

The stablecoin realm was envisioned as a place of stability for crypto adopters and a safe haven for traders. Inventing in Bitcoin, Ethereum, or other altcoins just wasn’t enough — providing a crypto version of the dollar, euro, and other world currencies was subsequently vital for the further development and easier interaction within the crypto ecosystems.

Once stablecoin assets arrived on the market, users became calmer about their crypto investments, since it could almost instantly be transferred to non-volatile assets. As the industry grew by leaps and bounds and thousands of assets emerged later on, the stablecoin sector also grew in numbers. However, in the last five years, the downfall of stablecoin projects has become a gruesome tradition. The latest UST crash saga and BUSD FUD story once again remind us that one should be extremely cautious when choosing digital asset instruments.

Brick by brick

Stablecoins have been adopted by individuals and businesses to facilitate cross-border payments and other financial transactions, making payments instant and cheap. These assets allow one to receive payments in seconds, without the long processing times and high fees associated with intermediaries such as banks and credit card companies.

READ full article at STASIS Blog on Medium.

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