So far, 2019 has been an unsettling year for stablecoins.
For one, OG stablecoin Tether was found lying about being fully backed by a dollar reserve. Then, amid tether’s legal turbulence, still more stablecoins were issued or announced. After all, what if tether falls? The successors will need to be groomed in time for the king’s overthrow.
If my memory and counting skills serve, so far this year there have been at least three stablecoins announced by cryptocurrency exchanges. Binance announced last week its own USD-backed stablecoin BUSD, on the heels of its Binance Jersey arm issuing a stablecoin, BGBP, pegged to the British pound.
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