Stablecoins

The technology’s costs outweigh the benefits, especially in the absence of stronger regulation

Stablecoins are a kind of cryptocurrency engineered to mimic the price of a mainstream asset, most often the US dollar

Various banks and other financial institutions have announced plans involving stablecoins in the past year

The pegged cryptocurrencies could be worth US$4 trillion globally in just five years

The city’s de facto central bank expects to grant the first batch of stablecoin approvals early next year

A calibrated strategy is needed to harness their efficiency while safeguarding monetary sovereignty

Merchants are typically paid out in local currency

The cryptocurrency firm controls USDT, a popular stablecoin

Ignore the hype – retailers and wholesalers cannot rely on this digital currency