USD is not the only fiat!

Hi There

Firstly I just wonder when others fiat will have stable coins? Why EUR does does not have stable coin?

Also what about others currency to exchange from crypto like Yuan, Rubble or Switzerland frank? Maybe to sell crypto and hold for CHF is better solution than USD because of inflation.

Most of current stable coins are not issued by the governments. They are issued by companies on blockchains. Most of them just peg to US dollar because it is considered world reserve currency by most of the other countries, so demand for USD is very high trough out the world.

However, there are some companies that issue stable coins pegged to other fiat currencies. Like TrustToken they issue US, Canadian, Australian and Hong Kong Dollar stable coins (TUSD, TAUD, TCAD, TKHD) as well as British (TGBP). Stasis company created digital Euro stable coin (EURS), you can get it from UniSwap. Bitcoin Suisse made stable Swiss Franc (XCHF), also on UniSwap.

Companies such as these make tokens only if there is a demand for them. If there was significant demand for other tokens, they would probably make those as well.

Many countries are in a process of trying to create their official digital tokens. Some countries made other stable coins illegal after introducing their own CBDC.

Ecuador, China and Singapore already have their digital currency versions. Ecuador, for example, made other competing crypto illegal when they issued their digital coin. Russia, Japan and Switzerland are already testing their digital currencies systems.

This is just the first 10 years of blockchain / crypto technologies and governments are usually extremely slow in adapting… well, anything really. So, it may take years (or decades) before most of the countries in a world adapt and create a systems for exchange and distribution of their digital fiat.

As for inflation safe investments… that depends on your world view. Swiss were printing money just as much as the other countries plus their currency used to be pegged to Euro until 5 years ago.

Maybe look into some research on inflation resistant assets for where to park your assets if you believe that inflation will affect your assets negatively.

Hope this helps :smiley:

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I just wonder would other fiat has hyperinflation, if usd does? Usd is a ruler at the moment for sure, but in next 5 - 10 years I see it will not be dominant. I like russia monetary politic, they are not in debt at all towards to printing money.

A lot of them would be affected. There are a lot of countries that pegged their currency to US dollar. So, if US dollar moves, their currencies follow. China and Japan peg to US dollar plus they are one of the largest holders of USD.

From what I remember Russia always has trouble with high inflation. They keep getting Europe and USA economic sanctions on them every few years. When you have so many economic sanctions it hurts countries exports and that will always hurt their currency. They got sanctioned about Ukraine, then that war in Crimea. then there were some chemical development sanctions, etc…

I think if you are scared of inflation you may need to look into research about inflation resistant assets, instead of currencies. Unless you believe that there is a fiat currency that is immune to actions of government that controls it.

Either way, more research you do, less chance that you will make a mistake.

Maybe it is a silver or gold, but I dont like stacking fees and other fees of these storages. I keep some sum of silver at home, but for bigger sum it is too risky

So I think still I will need to trust usdc or usdt for few years, I also will invest in some forex traders that already testing. For fiat itself I will need to do more research and do deeper analysis.

Europe got hurt from russia saction too. Russia new gas pipe line with germany will be completed soon also russia has good relations with china and other asia regions. I think political situation in the world is very unstable and am planning to sell my crypto next year spring or summer untill that time we will see how the world will change