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A comment on The explosion in stablecoins revives a debate around “free banking”. Parent comment

Re:The explosion in stablecoins revives a debate around “fre... by CryptoPunk on Friday December 03, 2021 @06:22AM (#29428795)
Not all stablecoins claim redeemability for USD. Some claim each unit's redeemability for an amount of some digital asset that is worth 1 USD, with the amount redeemed fluctuating in proportion to the value of the digital asset, to maintain the stable value.
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