Asher Tan is the co-founder of the Australian crypt market CoinJar. In an interview with the Financial Review website, Tan has now stated that stablecoins are changing the industry. The use cases for Stablecoins are much broader than previously thought, said Tan.
Stablecoins are cryptocurrencies designed to escape the typical price volatility of cryptocurrencies. This is made possible by swapping the stablecoins for a fixed value into other tokens. The most popular Stablecoin to date is Tether. Since Tether has been struggling with allegations and doubts for quite some time, other stablecoins have recently appeared to want Tether outnumbered. These include “Gemini USD”, the Winklevoss twins' Stablecoin, “Paxos Standard” and “True USD”.Tan said that stablecoins help move money in the crypto sector to a stable price. There are many areas of application, he noted.
Next, Tan said:
“In London, I see that many financial professionals are getting involved. People with 10, 20 years of forex experience try it. It attracts a lot of people from the classic finance community just because it's interesting and intriguing and because it offers many benefits. “
Tan pointed out that CoinJar is testing how to use stablecoins in its own business. So he said:
“We're checking that out right now. I believe that all crypto exchanges are considering how to digitize dollars at some point. “
The goal is to digitize traditional currencies
Tan also said:
“There are already a few Australian stablecoins – I think it's three or four. Many would probably be happy if we used them. The question is, how do we try to use it to improve the experience of our users? “
Stablecoins are an incentive for many investors. They offer the opportunity to participate in the crypto market without being exposed to extreme volatility. Others want to use cryptocurrencies as a means of exchange (and not as a speculative object).
In the interview, Tan assumed that the vast majority of users use Bitcoin for speculative purposes. However, Bitcoin sees a considerable part as a means of exchange and investment. He further explained that the view on Bitcoin continues to change and that this also influences the market view.Finally, Tan also reported that CoinJar was planning to expand into Europe. The company, Tan said, prefers this region as it is more regulated and interesting than Asia. The Asian continent is more fragmented, has different regulators and is more difficult in terms of cross-border activity.
Earlier this year, CoinJar launched the first Australian cryptocurrency index fund. It provides major access to cryptocurrencies to major investors with at least $ 2.5 million worth of assets (approximately $ 1.8 million). CoinJar assumes responsibility for the safekeeping of the cryptocurrencies.
Sources: Financial Review, CoinJar Blog, Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/kryptoboersen-gruender-stablecoins-werden-alles-veraendern/
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