Goldman Sachs, Citi and other banks are reportedly committing about $270 million to stablecoins, bringing a new rival to payment channels.
Bloomberg reported this morning, via BeInCrypto, that the money for Project Faro will fund five years of operations. Don’t mistake it for stablecoin reserves.
I think the banks’ advantages are their customers and settlement networks, but the liquidity of $USDC and $USDT won’t be easy to move. Keep an eye on the launch, redemption fees, and wallet support. Don’t assume something is safe just because a big bank’s name is attached.
https://beincrypto.com/goldman-citi-270m-stablecoin-tether-circle/
#稳定币 #Web3
Personal views only; not investment advice. Would you switch from the stablecoins you usually use in exchange for a bank’s backing?
Bloomberg reported this morning, via BeInCrypto, that the money for Project Faro will fund five years of operations. Don’t mistake it for stablecoin reserves.
I think the banks’ advantages are their customers and settlement networks, but the liquidity of $USDC and $USDT won’t be easy to move. Keep an eye on the launch, redemption fees, and wallet support. Don’t assume something is safe just because a big bank’s name is attached.
https://beincrypto.com/goldman-citi-270m-stablecoin-tether-circle/
#稳定币 #Web3
Personal views only; not investment advice. Would you switch from the stablecoins you usually use in exchange for a bank’s backing?