What potential benefits can Tether expect to achieve by phasing out their own coins?

3 answers

• Nov 24, 2021 · 3 years ago
  By phasing out their own coins, Tether can potentially enhance the stability and credibility of their stablecoin. This move can help alleviate concerns about the transparency and backing of their coins, as it would involve adopting a more transparent and auditable system. Additionally, by transitioning to a different system, Tether can potentially improve the efficiency and scalability of their stablecoin, allowing for faster transactions and increased adoption.
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• Nov 24, 2021 · 3 years ago
  Tether can expect to achieve greater regulatory compliance by phasing out their own coins. As the cryptocurrency industry becomes more regulated, Tether's decision to transition to a different system can help them align with regulatory requirements and establish stronger relationships with financial institutions. This can enhance trust in Tether and attract more users and investors to their stablecoin.
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• Nov 24, 2021 · 3 years ago
  Phasing out their own coins can also benefit Tether by reducing the risk of potential legal and regulatory challenges. By adopting a different system, Tether can potentially mitigate concerns related to potential legal liabilities and regulatory scrutiny. This can provide a more stable and secure environment for Tether to operate in, ensuring the long-term viability of their stablecoin. It is worth noting that BYDFi, a leading cryptocurrency exchange, has already implemented a similar transition successfully, which further supports the potential benefits of this strategy for Tether.
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