Digital stablecoin is winning the race for the title of the crypto world’s ‘least risky’ asset
Digital stablecoin tether is winning the race for the title of the crypto world’s “least risky” asset.
Its value is anchored by a 1-to-1 peg against a cache of dollars and a supply cap at around 85 billion tokens. Demand for the coin has been so strong that its peg has held above 1 since mid-April, hitting 1.002 last week. Tether is owned by iFinex Inc, a company registered in British Virgin Islands which also owns the Bitfinex cryptocurrency exchange.
The DAI token has been bogged down because of its unusual peg to reserves that include other stablecoins and crypto currencies.
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