Stablecoins are cryptocurrencies or digital currencies that are pegged to the fiat currency’s value of any country's national currency. Apart from that, they are backed by other cryptocurrencies, assets, and even gold to maintain a stable value. The central aim of Stablecoins was to give its holders high speed, the security of cryptocurrencies, and the stability of fiat currencies. Stablecoins strive to bridge the gap between the stability of fiat currencies and the beneficial nature of cryptocurrencies.
At Quest Global Technologies, we can help you set foot in the billion-dollar Stablecoin market with our services that hold the reputation of being proficient, maintaining international standards. We will assist in developing Stablecoins for various uses. Other services like white paper creation, marketing, landing page design, Smart Contract development, etc., will be undertaken and delivered promptly. Our professionalism and commitment to creating and launching projects within the Blockchain and Decentralized Finance landscape is sure to help you achieve your business goals and make profitable returns.
Stablecoins are digital assets pegged to fiat currencies and other crypto assets just so stability can be maintained. Stablecoins offer the best of both worlds by coupling the speed and security cryptocurrency offers with the stable value that fiat currencies hold. Stablecoins have a wide range of benefits in the likes of safety, speed, and peer-to-peer transactions. Stablecoins are witnessing tremendous growth these past few years, with the Stablecoin market reaching a total supply of 12 billion. Over 200 Stablecoins have been announced, with more coins still under research and development. So why would someone need Stablecoins?
The cardinal need for Stablecoins is just one factor - Volatility. Global cryptocurrencies like Bitcoin and Ether are highly volatile, which means their value is constantly changing. For example, in 2017, the price of Bitcoin increased by $19,000. This is not sustainable for investors and traders who want the market to be stable. Hence, Stablecoins that can hold the un-volatile value of fiat currencies were created. These cryptocurrencies functioning in a decentralized environment have other advantages like trust and adding value to the Stablecoins. Cross border transactions can also be made quickly with reduced additional costs.
Local currencies are susceptible to crashes. Stablecoin holders can trade in the crashed money for UDS backed or asset-backed Stablecoins that retain the value in such a calamity. This is an ideal escape from the instability of fiat currencies.
Stablecoins can be used as the equivalent of fiat currencies and utilized for day to day activities like paying for food, sending and receiving money and used to transfer money.
Cryptocurrency exchanges do not support fiat currencies. But thanks to crypto-fiat trading pairs, this obstacle can be overcome.
With smart contracts used for financial transactions, Stablecoins can be sent and received automatically-without rebutting third parties.
Transparency in transactions
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