The factor is, the unique Libra imaginative and prescient of a basket-backed stablecoin was lifeless lengthy earlier than the affiliation rebranded to Diem. Immediately, one may draw a comparability to tether (USDT) or US greenback coin (USDC) in that they’re now backed by baskets of belongings, although not baskets of currencies. They aren’t fairly the identical, however they’re most likely comparable sufficient. The chief considerations had been how the libra stablecoin would possibly have an effect on monetary stability, the way it is perhaps used and whether or not customers had been protected. The identical questions apply to stablecoins backed by baskets containing securities or different cryptocurrencies.
