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Island of Stability: Stable Coins Keep Attracting Big-League Investors

Published 07/20/2018, 08:02 AM
Updated 07/20/2018, 08:21 AM
Island of Stability: Stable Coins Keep Attracting Big-League Investors

On July 17, IBM (NYSE:IBM) announced its involvement in a U.S. dollar-pegged stable coin project dubbed Stronghold. While the IT titan isn’t new to the world of crypto, stable coins have been attracting more mainstream players lately, and big league investments — from the likes of Andreessen Horowitz and Peter Thiel — have started pouring in. Here are the largest advancement made in this field in the past months, along with the reasons why it might have attracted such major investors.

Cointelegraph has previously covered the concept of stablecoins in depth. Essentially, stable coins aim to tackle volatility — one of the cryptocurrencies’ chief dilemmas — without compromising their core values ensured by blockchain: namely, decentralization and security — although they have not always succeeded in doing so, as it will be explained below.

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