Dollar Stablecoins Could Put Pressure on Local Currencies, Korea Finds
Source ↗
👁 0
💬 0
Dollar-backed stablecoins could pressure local currencies when exchanges allow direct fiat purchases, a Bank of Korea study found. Researchers examined 12 currencies on Binance, including Brazil’s real, and tracked trading involving USDT and USDC.
Stablecoin Demand Hits Currency Markets
The findings linked dollar-stablecoin demand with foreign-exchange markets. When demand rises, market makers can sell local currencies to buy dollars. Consequently, that activity can add pressure to exchang
Stablecoin Demand Hits Currency Markets
The findings linked dollar-stablecoin demand with foreign-exchange markets. When demand rises, market makers can sell local currencies to buy dollars. Consequently, that activity can add pressure to exchang
Comments (0)