In the volatile world of cryptocurrencies, the term ”stablecoin”, may seem like a bit of an oxymoron. However, these price stable assets are real and becoming more popular with traders. Stablecoins are non-volatile cryptocurrencies tied to price-stable assets like the US dollar. They are used as a store of value and also work to serve as a basic medium of exchange.
"Cryptocurrencies provide decentralization of capital and stablecoins are one of the keys to bringing the benefits to everyday people through price stability,” Rafael Cosman, the co-founder and CTO of TrustToken, told Forbes. Last month, Bittrex launched trading of TrueUSD. TrueUSD is an independently verified fiat-backed stablecoin that is redeemable for U.S. dollars.
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