If its true that only 2.9% is backed by cash then that is very concerning, I have always been skeptical of so called stablecoins.
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If its true that only 2.9% is backed by cash then that is very concerning, I have always been skeptical of so called stablecoins.
Commercial papers are perfectly fine as collateral:
https://www.investopedia.com/terms/a/asset_backed_commercial_paper.asp
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That may be the case but will your bank accept commercial papers for a mortgage or car payment. Hell can you you use commercial papers to buy your weekly shopping. If a currency aint backed liked it was officially ment to be, chances are it is just another fiat backed shitcoin. That I will happily bypass thank you very much Lol