By Elizabeth Howcroft
PARIS, June 2 (Reuters) - Stablecoins pegged to the Turkish lira were the second-most widely used stablecoins among clients at Standard Chartered's crypto subsidiary last year, although volumes remain small compared to dollar-pegged tokens, Zodia Markets said on Tuesday.
Stablecoins, a type of cryptocurrency pegged to fiat currency, have surged in volume in recent years but are mostly used in crypto trading and not widely accepted as a means of payment.
"Our second-largest currency in terms of stablecoins last year was not the euro or any G10 currency as one perhaps would’ve expected but rather the Turkish lira," Nick Philpott, co-founder and interim CEO of Zodia Markets, which is majority-owned by Standard Chartered, said at a press event.
His comments highlight the lack of demand for euro-pegged stablecoins, which a group of European banks plan to launch this year despite European Central Bank scepticism.
PARIS, June 2 (Reuters) - Stablecoins pegged to the Turkish lira were the second-most widely used stablecoins among clients at Standard Chartered's crypto subsidiary last year, although volumes remain small compared to dollar-pegged tokens, Zodia Markets said on Tuesday.
Stablecoins, a type of cryptocurrency pegged to fiat currency, have surged in volume in recent years but are mostly used in crypto trading and not widely accepted as a means of payment.
"Our second-largest currency in terms of stablecoins last year was not the euro or any G10 currency as one perhaps would’ve expected but rather the Turkish lira," Nick Philpott, co-founder and interim CEO of Zodia Markets, which is majority-owned by Standard Chartered, said at a press event.
His comments highlight the lack of demand for euro-pegged stablecoins, which a group of European banks plan to launch this year despite European Central Bank scepticism.
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