Moody's: USDC depeg will reduce confidence in stablecoins
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Moody’s analysts believe that the recent decoupling of USD Coin (USDC) from the US dollar could hinder the development of stablecoins and lead to tighter regulation.
“So far, major fiat-backed stablecoins have shown amazing resilience, emerging unscathed from previous scandals such as the FTX crash,” Moody’s said.
The agency’s specialists also noted a significant increase in the capitalization of “stable coins” in recent years.