More than 100 unique stablecoins are currently in existence, almost double the number compiled last month, according to a new analysis and survey by blockchain entrepreneur Edan Yago[1] and stablecoin resource Stable.Report.
Backed by traditionally stable assets such as gold or the USD, stablecoins[2] are quickly emerging as a viable alternative to volatile cryptocurrencies, offering all the benefits of digital currencies while providing the stability required for use as a daily currency. These unique attributes have resulted in an explosion of interest within the sector with new projects emerging on a weekly basis.
Just yesterday, Aussie online payments processor Novatti Group unveiled[3] what is believed to be the first stablecoin built on Stellar. The Novatti AUD Utility Token is expected to launch on November 19.
“The incredible growth seen in stablecoin projects, and the amount of money in the stablecoin ecosystem, has taken everyone by surprise, but it’s a clear indicator of a strong need and desire for cryptocurrencies with low volatility. We can look forward to seeing many more projects emerge in this space over the coming months, catering to many different types of customers and use cases,” said Yago, a seasoned stablecoin and blockchain entrepreneur involved in various ventures and initiatives including Ticketchain Labs, a London-based company providing a white-label B2B ticket marketplace, and Epiphyte Corporation, an enterprise software developer.
“We’re truly entering an age of digital financial revolution, but there is still more work to be done. The next stage in the development of the stablecoin space is to build a unified, decentralized ecosystem. For stablecoins to reach their true potential, we need to ensure interoperability so users of any stablecoin will be able to spend their money anywhere, with any
