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Institutions Plan to Launch a Stable Currency to Replace BUSD

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It is reported that some institutions have contacted and proposed to launch a new stable currency to replace BUSD. According to Patrick Hillmann, the chief str…

Institutions Plan to Launch a Stable Currency to Replace BUSD

It is reported that some institutions have contacted and proposed to launch a new stable currency to replace BUSD. According to Patrick Hillmann, the chief strategic officer of Coin Security, due to the ban imposed by the US regulatory authority on the issuer of BUSD, Paxos, which is not allowed to issue more tokens, a number of private and public entities have expressed interest in carrying out a new stable currency cooperation plan with Coin Security, “especially entities in Europe and the Middle East”,

Forbes: The existing institutions have contacted with Qian An to launch a new stable currency to replace BUSD

Analysis based on this information:


The message reports that there have been discussions among institutions to launch a new stable currency to replace BUSD. BUSD (Binance USD) is a cryptocurrency issued by Paxos, which is currently under a ban by the US regulatory authority preventing it from issuing more tokens. As a result, private and public entities have contacted Coin Security, a cryptocurrency exchange, with interests in cooperating to launch a new stable currency, particularly in Europe and the Middle East.

A stable currency is a cryptocurrency that maintains a stable value by being pegged to a real-world asset or currency. BUSD was launched by Paxos in partnership with Binance, a popular cryptocurrency exchange. BUSD was designed to track the US dollar and maintain a stable value of $1, which makes it a popular choice among cryptocurrency traders who want to avoid the volatility of other cryptocurrencies.

However, due to the regulatory ban on Paxos, institutions are seeking a replacement for BUSD. Coin Security has emerged as a potential partner for these institutions, given its reputation and experience in the cryptocurrency industry. The interest from entities in Europe and the Middle East suggests that there is a growing demand for stable currencies outside of the US.

The ban on Paxos is not a unique case. Regulatory authorities around the world have been cracking down on cryptocurrencies, which they view as a threat to financial stability. However, the interest in launching a new stable currency shows that there is still a significant demand for cryptocurrencies, particularly those that provide stability.

In conclusion, the message suggests that institutions are planning to launch a new stable currency to replace BUSD, which is currently under a regulatory ban. The interest in a stable currency suggests that there is still a demand for cryptocurrencies despite the regulatory challenges. Coin Security has emerged as a potential partner for these institutions, and their interest in Europe and the Middle East suggests that the demand for stable currencies is not limited to the US. The future of cryptocurrencies remains uncertain, but the interest in stable currencies suggests that they may have a place in the financial world.

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