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Fiat-Backed Stablecoin

Stablecoins 1 references

A stablecoin backed by traditional financial assets (cash, cash equivalents, short-term treasuries) held by an issuer. The issuer typically offers minting and redemption at par.

Appears in 1 whitepaper sections

$USDT Tether
Proof of Reserves
...e no ability to independently verify reserve ratios) while acknowledging that a fiat-backed stablecoin cannot achieve the full trustlessness of a pure cryptocurrency like Bitcoin.

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