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Crypto giant Tether to launch sterling-pegged stablecoin

Channel News Asia LogoChannel News Asia1 mo ago

Crypto giant Tether to launch sterling-pegged stablecoin

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LONDON : Major crypto firm Tether said on Wednesday it will launch next month a "stablecoin" pegged to the British pound, a move that comes as London draws up plans to regulate the fast-growing type of digital currency.

Stablecoins are cryptocurrencies designed to keep a steady value against traditional currencies or commodities such as gold.

They seek to avoid the volatility that makes bitcoin and other digital tokens impractical for most commerce.


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Article Details

Category: Economy

Topics: Crypto Stablecoins Terrausd Markets Stablecoin Mediacorp Tokens Debt Month Value Tether

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-22, 17:33:11

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 3 minutes read

Article Length: 409 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 3372

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About Channel News Asia

Channel News Asia Logo

Main Topics: Economy

Official Website: channelnewsasia.com

Update Frequency: 55 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 1h ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #27

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