Transition to Non – Dollar Stablecoins ?
The recent decision of Binance to halt all transactions in US dollars, seems to be a strategic turn for the crypto exchange regarding its monetary policy.
Binance’s CEO, Changpeng Zhao, stated that the market has started to change towards fiat money regarding its use for stablecoins. The most dominant currencies are expected to be Euro, the Japanese Yen and the Singaporean dollar. The use of fiat money have more influence to stablecoins as they define their final value.
The same person referred to the use of gold for preserving value, which seems to be a logical statement, even if Bitcoin is expected to take this position after some years.
The various choices in the crypto space and the advanced regulations will bring more changes in the crypto companies’ strategies and their existence in the market.