Beware of country-specific stablecoins. Lately, I've been reading a lot about stablecoin projects launched by countries, both pegged to fiat currencies and gold.
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Stablecoins were created as an intermediate step between cryptocurrencies, which were very volatile, and the fiat assets we all need to live. But now that the crypto market is expanding and is on its way to becoming the financial standard of the future, governments, companies, and multilateral institutions will try to corner the market. That's where these new stablecoins, pegged to countries and backed by different assets such as bonds or gold, come in. We have to keep in mind that they are centralized currencies, not very different from fiat currencies, but digital. So, one day, the government in power may decide not to pay its obligations or not to hand over the gold that backs them. By then, it will be too late to realize the manipulation. So, be very, very cautious.
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