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Erschienen in:
2024 | OriginalPaper | Buchkapitel
9. Stablecoins: Types and Applications
verfasst von : Galia Kondova, Christian Bolliger
Erschienen in: Management, Innovation and Entrepreneurship in Challenging Global Times
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Abstract
Stablecoins are digital tokens that aim at “stabilising major currencies directly in the market for cryptoassets”. Stablecoins are built on a set of stabilization tools that classify them as tokenized funds, off-chain collateralized, on-chain collateralized and algorithmic. The paper provides a detailed overview of the different stabilization mechanisms supported by examples of international market applications. In addition, the paper distinguishes between private-issued and state-issued stablecoins and discusses current developments in Switzerland and China. Finally, the paper concludes with a discussion on the major advantages and challenges related to the implementation of stablecoins. The paper recognizes the advantages of stablecoins for the underbanked people and cross-border payments as well as acknowledges the challenges related to the establishment of an internationally coordinated legal framework and enforcement on stablecoins.