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Stable coins are digital currencies (probably CryptoCurrency on a BlockChain) that are allegedly pegged to national FiatMoney

(ReadWith) GrandFiatReset

There's a huge risk here ... the organization that pegs / tethers the virtual coin to the fiat really needs to be able to make good on its claim. Ie. it's like a country. If the stable coin is nominally worth $1 then the issuer needs to redeem it for $1. If it can't, it's insolvent.

The BankOfEngland is warning about them

But the big story here seems to be that FaceBook are trying to EmbraceAndExtend the British pound by wrapping it in their stable coin. (FacebookMoney)

In a sense they are becoming more like a "bank" (or the traditional bank which emitted notes as IOUs on stored gold)

This is another battle in TheUltimatePlatformWar

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