Primary and Secondary Markets for Stablecoins

Hamzah Daud, Jochen Demuth, Daniel Little, Megan Rodden, Amber Seira and Cy Watsky
Additional contact information
Hamzah Daud: https://fsi.stanford.edu/people/hamzah-daud
Megan Rodden: https://www.chicagofed.org/people/r/rodden-megan

No 2024-02-23-3, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Stablecoins are increasingly important in decentralized finance (DeFi) and crypto asset markets, and their prominence has led to greater scrutiny of their unique role as expressions of the U.S. dollar running on blockchain networks. Stablecoins attempt to perform a mechanically complex function – to remain pegged to the dollar, even during periods of market volatility.

Date: 2024-02-23
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:2024-02-23-3

DOI: 10.17016/2380-7172.3447

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