The first regulated stablecoin linked to the international version of the Chinese Yuan (CNH) intended for exchange markets, and a South Korean Won Stablecoin was launched this week while the global stablecoin race warms up.
The Anchorx financial technology company made its debut on Wednesday at its stablecoin Axcnh Yuan-Pegged in Hong Kong, according to Reuters, following a regulatory pivot in China, by adopting floors for international markets.
Stablecoin is intended to facilitate cross-border transactions with the countries of the Belt and Road initiative, an infrastructure project building physical roads connecting China to the Middle East and Europe, and to establish maritime commercial roads with other regions.
BDACS, a digital asset infrastructure company, also announced the launch of KRW1 on Thursday, a Korean stable co -spa.
KRW1 and AXCHN are both stable -centers, which means that they are fully supported 1: 1 by fiduciary currency or government debt instruments held by a goalkeeper.
Stablecoins are now a sector with geo-structure importance, while sovereign governments rush to place their fiduciary currencies on digital rails to increase the demand of their currencies internationally, in the hope of compensating for the inflationary effects of monetary printing.
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Interaction between stablecoins, fiduciary currencies, inflation and government debt
The inherited financial system is slow, requires a robust infrastructure which may not exist in developing areas and has currency controls in certain jurisdictions which hinder Fiat demand.
Place the fiduciary currencies on blockchain rails, which operate 24/7 and have a close and cross -border cross -border regulations, increases international demand by making the Fiat more accessible to the average person, which can compensate for price increases caused by currency inflation.
The inflation of currencies leads to price increases because the request for currency is not proportional to the additional offer created by the printing of money.
Stablecoin emitters on percussance like Tether and Circle help to solve this problem by buying debt instruments and cash assets to support their digital fiat tokens, then by making the tokens accessible to anyone with a mobile phone and a crypto portfolio.
Essentially, these companies offer an avenue to most people around the world to become buyers of indirect bonds, stimulating the market for these assets, reducing the state -made debt yields and reducing the government’s debt burden.
Tether is now one of the largest holders of the US Treasury bill in the world, going beyond developed countries, including Canada, Norway and Germany.
Anton Kobyakov, adviser to Russian president Vladimir Putin, recently said that the US government is trying to compensate for its debt of $ 37 billions with stablescoins and gold to strengthen confidence in the Dollar Decreased.
Review: Bitcoin vs stablecoins.