The stable in stablecoins

Garth Baughman, Francesca Carapella, Jacob Gerszten and David Mills (david.c.mills@frb.gov)

No 2022-12-17, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Stablecoins have garnered much attention as a key part of the emerging decentralized finance (or "DeFi") ecosystem, and as a potential way to pay for goods and services. Stablecoins facilitate trades on crypto exchanges, serve as the underlying asset for many crypto loans, and allow market participants to avoid inefficiencies stemming from converting back to fiat currency for crypto trades.

Date: 2022-12-17
New Economics Papers: this item is included in nep-ban, nep-mon and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2022-12-17

DOI: 10.17016/2380-7172.3224

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