Hello everyone...
Exactly 25 days ago, it was being announced the new incursion of tether in the stablecoin space of the Latin American region with the MXNT the Mexican peso stablecoin, which as I commented before, can bring great benefits for Latin America in its adoption process towards cryptocurrencies.
But today history has been made again, as Tether has officially announced the launch of one of the world's strongest currencies in the form of the GBP₮ stablecoin. Which again is a great progress in the field of adoption.
This news is important first for tether because it is a high caliber bet as it seeks to back solid coins in the market and the most demanded ones and continue to be a pioneer in the stablecoin sector and offer the most important and dominant coins in the international markets. Also this news would put England, one of the largest financial centers in the world, in the eye of many investors and crypto enthusiasts, it would also help a lot to send remittances to other countries, since with cryptocurrencies it is much easier to send money to other countries and as a large percentage of the workforce in London is foreigners, it would mean an increase in remittances abroad.
And possibly London would seriously consider recognizing stablecoins as a legal means of payment, as London seeks to completely avoid currencies as a means of payment that are very volatile and do not bring confidence to consumers, besides that transactions would be much faster and safer as well as economic and without intermediaries.
Now speaking of stablecoins, an interesting question arises here, since after the UST fell drastically after losing its parity with the dollar, we wonder: Why are more and more stablecoins coming out?. And the answer was given by @Taskmaster4450 in his amazing post where he talked about the huge failure of USDD, Justin Sun's stablecoin, which although he touted it as the most secure and flawless stablecoin, has so far failed miserably to offer a stablecoin.
Since it does not trade 1:1 with the dollar and is currently around $0.97 being $0.92 the lowest point, this due to the huge failure that made the UST also fell and it has no real foundation, no development and rushed to launch to try to fill the void left by UST, so it is very likely that we will see how the USDD falls and loses its parity with the dollar completely.
Now, why is this GPBT release of tether any different?
Well although I am not a fan of the centralization of the USDT, I have to recognize that they have a good foundation of their coins, they have a long time in the market which gives confidence and finally they do not launch a product without reason.
Good basis of their coins: Something that supports the issuance of coins of the company Tether is that they have billions in commercial paper, bonds, physical bills and other assets.
Time in the market: USDT has been in the market since 2014, they have been used for almost 8 years and have grown considerably becoming the main stablecoin in the market and the third with the highest capitalization in the crypto market.
Projects in the right way: tether so far has launched stablecoins that have a great utility, for example the dollar is the most used currency in world trade and literally everyone knows the dollars, so launching a cryptomart associated with the most demanded currency is a very wise decision. Also the other project the MXNT is also a wise project since it is one of the strongest currencies in the Latin region and the least affected currency in relation to the dollar.
So as we can see this new tether project will work very well for different reasons, but the most important thing is that it will be helping to increase adoption, as we are seeing unprecedented changes, which looks very good for the future.
What do you think about the GBPT? Do you think it will be a good idea for mass adoption and will help more people to access the world economy? Let me know your opinion, and if you found this post interesting, it would be very helpful if you reblog it so it can reach more people.