31 lines
4.2 KiB
Markdown
31 lines
4.2 KiB
Markdown
# Stablecoin
|
||
|
||
A crypto asset that is pegged (see [currLency peg](currLency-peg.md)) to a real world [currency](currency.md) such as the dollar or euro. Stablecoins may be issued on multiple [blockchain](blockchain.md).
|
||
|
||
Stablecoins may be [leverage](leverage.md) against their deposits where the total value in circulation does not equal the assets held on behalf of customers. Such stablecoins are known as *unbacked stablecoins*.
|
||
|
||
Since stablecoins are outside the regulatory perimeter, these assets are often used as a place to park winnings from crypto trading to avoid taxation.
|
||
|
||
See also [DeFi](defi.md), [staking](staking.md) and [liquidity pool](liquidity-pool.md).
|
||
|
||
## References
|
||
1. Steele, Graham. 2021. ‘The Miner of Last Resort: Digital Currency, Shadow Money and the Role of the Central Bank’. Technology and Government, Emerald Studies in Media and Communications, Forthcoming.
|
||
1. Gorton, Gary B., and Jeffery Zhang. 2021. ‘Taming Wildcat Stablecoins’. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3888752.
|
||
1. Bennet, Tomlin. n.d. ‘Tether and Bitfinex Introduction’. Accessed 2 March 2022. https://bennettftomlin.com/2021/08/08/tether-and-bitfinex-introduction/.
|
||
1. Krugman, Paul. 2018. ‘Transaction Costs and Tethers: Why I’m a Crypto Skeptic’. The New York Times 21.
|
||
1. Castor, Amy. 2021. ‘The Curious Case of Tether: A Complete Timeline of Events’. https://amycastor.com/2019/01/17/the-curious-case-of-tether-a-complete-timeline-of-events/.
|
||
1. Griffin, John M, and Amin Shams. 2020. ‘Is Bitcoin Really Untethered?’ The Journal of Finance 75 (4): 1913–64.
|
||
1. Brennecke, Martin, Benjamin Schellinger, Nils Urbach, and Tobias Guggenberger. 2022. ‘The De-Central Bank in Decentralized Finance: A Case Study of MakerDAO’. https://doi.org/10.24251/HICSS.2022.737.
|
||
1. Clements, Ryan. 2021. ‘Built to Fail: The Inherent Fragility of Algorithmic Stablecoins’. SSRN Electronic Journal 11: 131. https://doi.org/10.2139/ssrn.3952045.
|
||
1. Ferreira, Agata. 2021. ‘The Curious Case of Stablecoins—Balancing Risks and Rewards?’ Journal of International Economic Law 24 (4): 755–78. https://doi.org/10.1093/jiel/jgab036.
|
||
1. Landwehr, Marvin, and Volker Wulf. 2020. ‘Toward Emancipatory Currencies: A Critique of Facebook’s Libra Cryptocurrency and Ideas for Alternatives’. PervasiveHealth: Pervasive Computing Technologies for Healthcare, 236–46. https://doi.org/10.1145/3401335.3401365.
|
||
1. Li, Ye, and Simon Mayer. 2021. ‘Money Creation in Decentralized Finance: A Dynamic Model of Stablecoin and Crypto Shadow Banking’. Fisher College of Business Working Paper, no. 2020–03: 030.
|
||
1. Malloy, Matthew, and David Lowe. 2021. ‘Global Stablecoins: Monetary Policy Implementation Considerations from the U.S. Perspective’. Finance and Economics Discussion Series 2021 (020): 1–14. https://doi.org/10.17016/feds.2021.020.
|
||
1. Mizrach, Bruce. 2021. ‘Stablecoins: Survivorship, Transactions Costs and Exchange Microstructure’. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3835219.
|
||
1. Pupolizio, Ivan. 2021. ‘From Libra to Diem. The Pursuit of a Global Private Currency’. Global Jurist. https://doi.org/10.1515/gj-2021-0055.
|
||
1. Reiser, Jan. 2020. ‘Libra : An Economic and Technical Analysis’. https://wwz.unibas.ch/fileadmin/user_upload/wwz/00_Professuren/Schaer_DLTFintech/Lehre/Reiser_2020.pdf.
|
||
1. Salmony, Michael. 2019. ‘Money and the Fear of Missing out: How to Stay Sane in a World Shaken by Libra.’ Journal of Payments Strategy & Systems 13 (4): 282–87. https://www.ingentaconnect.com/content/hsp/jpss/2020/00000013/00000004/art00002.
|
||
1. Tischer, Daniel. 2020. ‘Cutting the Network? Facebook’s Libra Currency as a Problem of Organisation’. Finance and Society 6 (1): 19–33. https://doi.org/10.2218/finsoc.v6i1.4406.
|
||
1. Vasudevan, Ramaa. 2020. ‘Libra and Facebook’s Money Illusion’. Challenge 63 (1): 21–39. https://doi.org/10.1080/05775132.2019.1684662.
|
||
1. Zetzsche, Dirk A., Ross P. Buckley, and Douglas W. Arner. 2021. ‘Regulating Libra’. Oxford Journal of Legal Studies 41 (1): 80–113. https://doi.org/10.1093/ojls/gqaa036.
|
||
1. Peebles, Gustav. 2020. ‘Banking on Digital Money: Swedish Cashlessness and the Fraying Currency Tether’. Cultural Anthropology 36 (1): 1–24. https://doi.org/10.14506/ca36.1.01. |