I wonder what the options are if I would like to hold a digital asset pegged to fiat currency other than the US dollar.
To be honnest it worries me a bit that all adopted stablecoins seem to be pegged to USD. I live in europe and If the dollar price crashes I would be dragged down with the US failed economy while holding USD tethered assets. (all very fun if you like trading, but not if you consider your digital assets wallet a substitute for your bank account.)
Also if Bitcoin was really a hedge against fiat and fiat sentiment would go down in favour of Bitcoin. International fiat currencies would end up flowing into USD-pegged stablecoin reserves. Basically the banks controlling the tether reserves would get increased control over fiat markets no ? Currently imdo the more money that flows into Bitcoin, the more control US has over international markets. I dont like that outlook.
Anyone knows trustworthy initiatives for EUR / YEN / POUND stablecoins ?
I would like to see them discussed in this topic.