USD backed Cryptos – An overview

The widespread acceptance & adoption of Cryptocurrencies has led the Central banks around the world into mulling over the advantages of issuing the digital counterparts of their fiat currencies. The main contention that the financial authorities have with the existing Cryptos is the volatile & unpredictable price movements which can’t be associated with a fiat currency which acts as a store of value. The central banks are still mulling over issuing their own digital coins in their respective jurisdictions to replace the existing fiat currencies, but they have certainly been hastened to find other alternatives since the rapid adoption of…...