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White House Crypto Adviser Says Stablecoins (price-pegged cryptocurrencies) Threaten Banks Now but Offer Win-win Ahead

According to remarks at the Ondo Finance (tokenized assets platform) Summit, White House crypto adviser @patrickjwitt said stablecoins are currently "threatening" to banks but could become a "win-win opportunity."

ONDO

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Terms & Concepts
  • Stablecoin: A cryptocurrency designed to maintain a stable value, typically pegged to a fiat currency like the U.S. dollar, used for payments and settlements.
  • Tokenized assets: Traditional assets represented as blockchain tokens, enabling on-chain transfer, settlement, and programmability.