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A case study for stablecoin compliance and security By Cointelegraph

by Mike Robinson

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BUSD: A case study for stablecoin compliance and security

Stablecoins have emerged as significant players in the crypto market this year, driven by user demand for flexible liquidity in fiat currency times. A type of digital currency which is pegged to the underlying real-world asset or can be backed by it. This can include fiat money or commodities such as gold and silver or any cryptocurrency. Stablecoins, as their name implies, are intended to be stable and stable, much like cash. This contrasts with the volatility that is prevalent in crypto trading.

A typical fiat-backed stablecoin could have a token issuer with 100,000 tokens each, each valued at $1 USD. The token holders have the ability to trade these coins in a similar fashion as any cryptocurrency. One major difference between the two currencies is the fact that token holders can redeem their coins at any moment for USD. Since USD is fairly stable, users don’t have to worry that their money will lose its value overnight. As a result, according to CoinMarketCap, there is currently 120 billion dollars worth of stablecoins in circulation.

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