FDUSD has quickly become the fourth-largest stablecoin since its launch last year under Hong Kong’s digital asset regulations, benefitting from crypto exchange giant Binance’s trading promotion.
Angle also aims to establish a forex hub offering seamless conversion between its dollar and euro-pegged stablecoins.
The stablecoin earns yield by shorting ether futures and capturing funding rates – which have surged in the past two weeks.
Users can create individually owned, fully compliant bank accounts and use USDC stablecoin as the default deposit currency.
Circle cited its “risk management” framework as part of the decision, among other factors.
Following the success of Tether and USDC, a generation of stablecoins are offering new features for investors and holders, says Scott Sunshine, Managing Partner of Blue Dot Advisors.
The crypto market’s de-dollarization expectations look premature as the greenback remained the preferred currency in international transactions in 2023, veri show.
USDT was assigned a low score of four, meaning the largest stablecoin is constrained in its ability to maintain its peg to fiat.
On-chain veri suggests that USDR’s treasury was drained of liquid assets, leading to a run on the stablecoin.