An international organization, comprised of independent stablecoin issuers not affiliated with any major exchanges or trading platforms, has been launched. It has an idea of accelerating the adoption of stablecoins around the world by advocating for the highest levels of security and compliance standards.
The group consists of companies from Europe (EURS), Turkey (BiLira), Brazil (BRZ Token), Indonesia (Rupiah Token) and Canada (Stablecorp). In order to facilitate the adoption of stablecoins around the world, the organization plans to emphasize compliance with regulatory requirements and incorporate best practices, creating and maintaining a sense of comfort for users. The alliance also intends to explore the creation and maintenance of affordable on-chain currency rails and trading pairs, develop and improve the listing of stablecoins on leading exchanges, and advocate for the promotion of additional independent stablecoin projects.
Globally, stablecoins have taken the lead in 2020. The total number of coins in circulation increased by 400%. The total supply of stablecoins in the third quarter has doubled compared to the second quarter, and the total market capitalization of stablecoins has exceeded $20 bln at the time of writing.
Image courtesy of Ledger Insights