Stablecoins, which have been on a pandemic tear, have the potential to soak up deposits currently held by banks, where they offer little or no interest.
nChain Chief Scientist Craig Wright has delivered an obscenity-laden interview discussing decentralized finance and stablecoins, calling such projects a "complete scam" and "illegal."
So-called stablecoins like tether and USDC are $1 tokens in theory, but a complex arbitrage transaction seems to have netted one trader an 89% profit in just minutes.
Avanti says the Avit will not encounter the legal, accounting or tax hurdles of stablecoins, but it’s not yet clear where the asset will fit under U.S. law.