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the opportunity
why multi-currency stablecoins
global currency exchange presents a huge opportunity for defi.
on average, $6.6 trillion trades every day (1) in the worldwide foreign exchange market, with 2020 volumes in the vicinity of $2.409 quadrillion💱.
the USD is the global reserve asset and as the world of decentralised finance(defi) has grown, there has been a proliferation of USD backed stablecoins, trading volumes in excess of $30Bn per day (2).
up to this point there has however been very little exploration or issuance of other representative decentralised stablecoin currencies.
many defi participants wish to gain access to alternate currency exposure for local currency borrowing, hedging, speculation, and maybe even for payments.
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