Stablecoins poised to have a real-world purpose after all

Tether and USD Coin, the two largest players, reference their values 1:1 to the US dollar, which enables them to act as a bridge of sorts between virtual and real-world representations of money. — Bloomberg

IN the decade that they have been around as an asset class, crypto stablecoins, which advertise tranquility in an ocean of tumult, have hardly lived up to their billing.

Not one out of the 68 tokens studied by researchers at the Bank for International Settlements has managed to stay on its peg at all times.