Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Bitcoin hits $ 101k to reclaim six digits, because Trump confirms us, UK Trade Deal

2025-05-08

Why do Democrats quietly support Trump’s controversial crypto plan?

2025-05-08

Texas a step away from creating official Bitcoin Reserve

2025-05-08
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Solana’s software supports these Layer-1’s

    2025-05-08

    Element goes live on abstract blockchain to power the next generation of modular daps

    2025-05-08

    Camino works together with Lufthansa Systems and Swiss to stimulate innovation in the travel industry

    2025-05-08

    How Plume is planning to scale tokenized real estate to $ 4 trillion by 2035

    2025-05-08

    Hadron integrates chain analysis by Tether, represents a new standard informing tokenization

    2025-05-08
  • NFT

    Drink-to-earn? A new sparkling water comes with an NFT and points

    2025-05-08

    Cobie says we will return if someone buys this $ 20 million NFT

    2025-05-08

    Edge Matrix, Colabs Partner to strengthen NFT -Makers

    2025-05-08

    Argentinian football club Partners with StepN to launch digital sneakers

    2025-05-05

    Pudgy Penguins #6873 Leads with Top NFT -sale worth $ 360.2k

    2025-05-04
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Bitcoin hits $ 101k to reclaim six digits, because Trump confirms us, UK Trade Deal

    2025-05-08

    Crypto Exchange Coinbase adds Gold-Pegged Stablecoin Paxg to the list of route map

    2025-05-08

    XRP is forming bullish reverse dragon head pattern, how high can the price go?

    2025-05-08

    Bitcoin is recovering, but the market is still sharp with short -term holders near Breakeven

    2025-05-08

    Analysts say that $ 2,500,000,000,000,000 ‘avalanche’ of selling could reach the US dollar, warning trade wars threaten Greenback’s profession: report: report

    2025-05-08
  • Learn

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02

    What Is a Layer-0 Protocol?

    2025-05-02

    What Are Utility Tokens? Types, Roles, Examples

    2025-04-17

    Real-World-Assets in Crypto, Explained

    2025-04-16
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Web 3»Why stablecoins are so important
Web 3

Why stablecoins are so important

2024-05-08No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

TL; DR

  • Colombia’s largest bank, Bancolombia, has gotten into the crypto business by launching a crypto exchange and a stablecoin, which got us thinking about the value of stablecoins.

Full story

Colombia’s largest bank, Bancolombia, has entered the crypto business by launching a crypto exchange called Wenia.

At the same time, they launched a stablecoin called ‘COPW’, which is pegged to the Colombian peso.

That news is nice and all, but the important topic it got us thinking about is this:

Many people (on both sides of the fence!) seem to think there is only room for it or crypto or traditional finance, but there is no room for them to coexist.

We are here to tell you that this is nonsense.

Take a stablecoin like COPW for example: it literally couldn’t exist without a fiat currency to which it could be pegged.

Sure, there are other stablecoins that are pegged to the value of gold and other commodities, but ultimately their value can also fluctuate widely, making it difficult to be ‘stable’ stablecoins.

(Not to mention algorithmic stablecoins á la UST 😐)

We’re not sure that crypto will ever be the world’s dominant currency – and that’s not necessarily a bad thing.

But there is a very important place in the world for stablecoins.

For example, if your country’s fiat currency is currently experiencing hyperinflation, but you to have the ability to list it on an exchange and convert it to something like USDC; suddenly your currency will only inflate as much as the US dollar – still relatively high, but not catastrophically so.

See also  Bitcoin is about to make history (but just hit a 2,000-foot wall)

All of this is to say, we’d love to see a company so deeply entrenched in the traditional financial space (literally a bank) enter the crypto space with the intention of introducing their users to crypto.

Kudos to you, Bancolombia.

Source link

Important Stablecoins
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Post Pectra, Ethereum is now focusing on efficiency with 60 million gas limit expansion

2025-05-08

Crypto VC funds are struggling to record money as rebounds of starting fundraising in 2025

2025-05-07

Most important support levels in danger

2025-05-06

Map Bitcoin’s away to $ 98k – Analyzing important obstacles, opportunities for a rebound

2025-05-04
Add A Comment

Comments are closed.

Top Posts

Exclusive pre-sale access to Crypto Homosapiens via whitelisting

2024-02-22

New report reveals growth potential

2023-04-29

RACE unveils its RWA marketplace built with OP Stack

2024-03-20
Editors Picks

Top Analyst Says This Ethereum-Based Blue-Chip Ethereum-Based Altcoin Is About to ‘Bounce Hard’ – Here’s Its Outlook

2023-11-20

Bitcoin Price Is Promising – What About 2024 Prediction?

2023-12-25

Toncoin – Mapping when and where the next price of Ton will start

2025-02-22

Axen forges groundbreaking partnership with Cluster Protocol

2024-04-23
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin hits $ 101k to reclaim six digits, because Trump confirms us, UK Trade Deal

Why do Democrats quietly support Trump’s controversial crypto plan?

Texas a step away from creating official Bitcoin Reserve

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$102,569.175.46%
  • ethereumEthereum(ETH)$2,176.3120.31%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.307.95%
  • binancecoinBNB(BNB)$623.893.72%
  • solanaSolana(SOL)$161.049.06%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.19303312.08%
  • cardanoCardano(ADA)$0.7513.05%
  • tronTRON(TRX)$0.2566283.36%
  • suiSui(SUI)$4.0019.37%
  • chainlinkChainlink(LINK)$15.7214.16%
  • avalanche-2Avalanche(AVAX)$21.8012.04%
  • stellarStellar(XLM)$0.28917111.23%
  • bitcoin-cashBitcoin Cash(BCH)$423.0816.74%
  • shiba-inuShiba Inu(SHIB)$0.00001411.53%
  • hedera-hashgraphHedera(HBAR)$0.19391310.12%
  • unus-sed-leoUNUS SED LEO(LEO)$8.831.39%
  • the-open-networkToncoin(TON)$3.195.77%
  • hyperliquidHyperliquid(HYPE)$22.657.18%
  • litecoinLitecoin(LTC)$94.005.66%
  • polkadotPolkadot(DOT)$4.4412.53%
  • moneroMonero(XMR)$296.175.08%
  • daiDai(DAI)$1.00-0.02%
  • bitget-tokenBitget Token(BGB)$4.465.70%
  • ethena-usdeEthena USDe(USDE)$1.00-0.06%
  • pepePepe(PEPE)$0.00001133.51%
  • piPi(PI)$0.649.33%
  • uniswapUniswap(UNI)$5.8720.96%
  • bittensorBittensor(TAO)$415.8112.95%
  • aptosAptos(APT)$5.4313.60%
  • nearNEAR Protocol(NEAR)$2.6918.43%
  • okbOKB(OKB)$52.844.44%
  • aaveAave(AAVE)$202.7418.33%
  • ondo-financeOndo(ONDO)$0.9610.52%
  • ethereum-classicEthereum Classic(ETC)$18.4714.99%
  • internet-computerInternet Computer(ICP)$5.1712.88%
  • gatechain-tokenGateToken(GT)$21.964.18%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.25117415.35%
  • crypto-com-chainCronos(CRO)$0.0978427.51%
  • kaspaKaspa(KAS)$0.0983346.70%
  • mantleMantle(MNT)$0.754.96%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.4714.17%
  • render-tokenRender(RENDER)$4.6911.24%
  • vechainVeChain(VET)$0.02811013.50%
  • usd1World Liberty Financial USD(USD1)$1.000.18%
  • ethenaEthena(ENA)$0.34890030.81%
  • filecoinFilecoin(FIL)$2.9113.56%
  • algorandAlgorand(ALGO)$0.22381312.75%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.7715.38%
  • bitcoinBitcoin(BTC)$102,569.175.46%
  • ethereumEthereum(ETH)$2,176.3120.31%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.307.95%
  • binancecoinBNB(BNB)$623.893.72%
  • solanaSolana(SOL)$161.049.06%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.19303312.08%
  • cardanoCardano(ADA)$0.7513.05%
  • tronTRON(TRX)$0.2566283.36%
  • suiSui(SUI)$4.0019.37%
  • chainlinkChainlink(LINK)$15.7214.16%
  • avalanche-2Avalanche(AVAX)$21.8012.04%
  • stellarStellar(XLM)$0.28917111.23%
  • bitcoin-cashBitcoin Cash(BCH)$423.0816.74%
  • shiba-inuShiba Inu(SHIB)$0.00001411.53%
  • hedera-hashgraphHedera(HBAR)$0.19391310.12%
  • unus-sed-leoUNUS SED LEO(LEO)$8.831.39%
  • the-open-networkToncoin(TON)$3.195.77%
  • hyperliquidHyperliquid(HYPE)$22.657.18%
  • litecoinLitecoin(LTC)$94.005.66%
  • polkadotPolkadot(DOT)$4.4412.53%
  • moneroMonero(XMR)$296.175.08%
  • daiDai(DAI)$1.00-0.02%
  • bitget-tokenBitget Token(BGB)$4.465.70%
  • ethena-usdeEthena USDe(USDE)$1.00-0.06%
  • pepePepe(PEPE)$0.00001133.51%
  • piPi(PI)$0.649.33%
  • uniswapUniswap(UNI)$5.8720.96%
  • bittensorBittensor(TAO)$415.8112.95%
  • aptosAptos(APT)$5.4313.60%
  • nearNEAR Protocol(NEAR)$2.6918.43%
  • okbOKB(OKB)$52.844.44%
  • aaveAave(AAVE)$202.7418.33%
  • ondo-financeOndo(ONDO)$0.9610.52%
  • ethereum-classicEthereum Classic(ETC)$18.4714.99%
  • internet-computerInternet Computer(ICP)$5.1712.88%
  • gatechain-tokenGateToken(GT)$21.964.18%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.25117415.35%
  • crypto-com-chainCronos(CRO)$0.0978427.51%
  • kaspaKaspa(KAS)$0.0983346.70%
  • mantleMantle(MNT)$0.754.96%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.4714.17%
  • render-tokenRender(RENDER)$4.6911.24%
  • vechainVeChain(VET)$0.02811013.50%
  • usd1World Liberty Financial USD(USD1)$1.000.18%
  • ethenaEthena(ENA)$0.34890030.81%
  • filecoinFilecoin(FIL)$2.9113.56%
  • algorandAlgorand(ALGO)$0.22381312.75%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.7715.38%