The factor is, the unique Libra imaginative and prescient of a basket-backed stablecoin was lifeless lengthy earlier than the affiliation was renamed Diem. Right this moment, one might evaluate it to Tether (USDT) or US Greenback Cash (USDC) as they’re now backed by asset baskets however not currency baskets. They don’t seem to be precisely the identical, however in all probability comparable sufficient. The principle issues have been how the Libra stablecoin would possibly have an effect on monetary stability, the way it is likely to be used and whether or not customers could be protected. The identical questions apply to stablecoins backed by baskets of securities or different cryptocurrencies.

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