Peter Thiel, Coinbase Support Reserve’s Stablecoin

Spotlight Growth - Penny Stocks, Small Cap Stocks, Micro-Cap and Micro Cap Stocks, Stock Exchange, NASDAQ, Crypto, BitCoin, DogeCoin, Ai, Artificial Intelligence, Chat GPT, OpenAi, Open Ai, ASURE Software, Trending, Now, Breaking News, BioTech, Data, Analytics, Technology, Big Tech, Banking, SVB, Bank Closures, Failures, Finance, Stock Market News, WeBull, RobinHood, Reddit Traders, Trading, Investing, Investors, Investment, Investments, Day Trading, Real Estate, VC, Venture Capital, Private Equity, Firm, Firms, OTC Markets, Public, Private, OTCQB, GOOG, APPLE, Shareholders, Stakeholders, Shares, Finance Education, Blog, Articles, Consumer Goods, Pharma, Commodities, Precious Metals, Gold, Silver, Cannabis, CBD, Lithium, Electric Vehicles, Solar, Tesla, Charging, EV, Cloud Computing, Wall Street Bets, Sports Betting, Economy, Economics, IPO, Trade Ideas, Intellectual Property Rights, Private Placement, Crowd Funding, Fundraising, Meta, Metaverse, Web 3, Cyber, Cybersecurity, Cyber Security, Aircraft, VPN, Yahoo Finance, Benzinga, BarChart.

The cryptocurrency market is notorious for its level of volatility. The constant market fluctuations attract swing traders looking to profit but may be driving away the average investor. As such, there is a drive to develop ‘Stablecoins’ or cryptocurrencies with prices pegged to forces outside of the blockchain sphere. Traditionally, Tether (USDT) provided the service through major exchanges – but a new class of Stablecoin threatens that top position. Recent start-up Reserve may give them a run for their money.

The requirements for a Stablecoin are different than the average cryptocurrency. Rather than providing access to decentralized applications or serving as a strict digital currency, a Stablecoin’s value is based on an outside force. In the case of Tether, this outside force is the United States Dollar. Meanwhile, Reserve uses a system of locked crypto-assets to ensure both stability and transparency – something Tether sorely lacks. These cryptocurrency assets, diversified to reduce volatility, are locked in a ‘Vault’ that is verifiable by blockchain.

High Profile Tech Entrepreneur Backs Reserve

Peter Thiel, known both for his co-founding PayPal and his judicial activism, is a super-star in the tech universe. PayPal is still the lifeblood of internet commerce, and his early investment in Facebook helped spark the social media revolution. Thiel is one in a group of over 40 investors that have backed Reserve in their campaign to bring stability to the cryptocurrency market.

Further, fiat-to-crypto mainstay Coinbase have also invested in the Stablecoin start-up. Fully certified in the United States, Coinbase is the public face of cryptocurrency to many outside of the industry. Their carefully vetted trading pairs are a gateway to the market as a whole, and even the rumor of a coin’s addition to their service can cause a spike in prices. They’ve made no announcements to include Reserve, but their investment in the project shows at least some degree of interest.

Reserve vs. Tether

The arrival of Tether had a profound impact on the cryptocurrency market. No longer relying on other cryptocurrencies to avoid price crashes, investors could ‘safely’ store their funds through the use of Tether’s USDT cryptocurrency. Supposedly backed by an equivalent supply of U.S. Dollars, Tether is plagued with constant complaints about their lack of transparency. They have refused a full audit, releasing only the occasional low-value verification from third party accounting services. The lack of an audit has left some investors wary.

Reserve solves the transparency issue through judicious use of blockchain technology. All assets are stored in the form of cryptocurrency, and locked within a system known as ‘The Vault’ to ensure that they continue to provide backing for Reserve itself. While this introduces a certain level of danger – if the crypto-assets lose their value, so too does Reserve – it also allows for unprecedented transparency for a Stablecoin. It remains to be seen if Reserve can hold a stable value without fiat backing, but if they succeed, Tether could face heavy competition.

Article By: Adam Stone

Peter Thiel, Coinbase Support Reserve’s Stablecoin

Asure Software (NASDAQ: ASUR) is Expanding to Meet the Rising Demand for Human Capital Management Software

OLB Group (NASDAQ: OLB) and Cuentas (NASDAQ: CUEN) Team Up to Bring Fintech Solutions to Over 32,000 Bodegas Across the United States

New Purchase Orders for SD7 Rugged Device, VK7, and Other Accessories Boost Siyata Mobile’s Outlook (NASDAQ: SYTA)

Telcoin (TEL) Quietly Leads a Crypto Remittance Revolution

Vision Marine (NASDAQ: VMAR): An Innovative, Revenue-Producing Company Riding the Electric Boating Growth Trend

Decentraland (MANA) is the Proof of Concept for the Emerging Metaverse

Alfi, Inc. (NASDAQ: ALF) Climbs 51% After Entering Into Agreement with Miami-Based Fulfillment & Distribution Center For its Ridesharing Digital Tablet Rollout

Telcoin (TEL) Continues to Demonstrate Fundamental Progress, Displaying Bullish Technical Setup

Grove Collaborative (NYSE: GROV) Expands Retail Distribution Footprint Into 2,200 Additional Stores

The Metaverse is Exploding in Popularity and Growth

Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

Safe-T (NASDAQ: SFET) Has Been Selected to Present at the United Nations’ Office of Information and Communications Technology Event

Safe-T Group (NASDAQ: SFET) Reports Fourth Quarter and Full Year 2020 Financial Results

Safe-T Group Ltd. (NASDAQ: SFET) Estimates Record-High Annual Revenues of Approximately $4.9 Million Representing ~50% Growth YoY 2020

Safe-T Group Ltd. (NASDAQ: SFET) to Participate at A.G.P.’s Virtual Emerging Growth Technology Conference on February 4, 2021

Nvidia Announces New Chip Specifically For Ethereum Mining

Sortis Holdings, Inc. (OTC Pink: SOHI) Announces Results for Second Quarter 2020

Medical Marijuana Coming Soon to Virginia

SushiSwap (SUSHI) Appropriates Uniswap’s Liquidity Pool by Preempting Native Token Release

Europe Shows Signs of Warming to SPACs

Singapore’s Journey to Becoming a Biotech Powerhouse

SeaStar Medical (NASDAQ: ICU) Earns Third FDA Breakthrough Device Designation for Selective Cytopheretic Device

Exploring What Led to a 3,000% Surge in Shares of Tempest Therapeutics (NASDAQ: TPST)

Vivos Therapeutics (NASDAQ: VVOS) Secures Strategic Alliances to Enhance Clear Aligner Offerings and Bolster Revenue Streams

Shares of Soleno Therapeutics (NASDAQ: SLNO) Surge Over 500% After Its DCCR Candidate Shows Promise in PWS Clinical Trials

Understanding EBITDA and Adjusted EBITDA: A View Into Asure’s (NASDAQ: ASUR) Recent Financial Performance

From Microsoft to Travel Tech: VCI Global’s (NASDAQ: VCIG) Expanding AI Horizons

Singapore’s Leap into the Future of Cell and Gene Therapies

Asure (NASDAQ: ASUR) Completes Capital Raise to Fuel High-Interest Debt Reduction, Craig-Hallum Analyst Praises Move and Estimates Bullish Outcome

Asure (NASDAQ: ASUR) Reports Massive 50% Y/Y Revenue Growth During Q2 2023, Raises $40 Million to Pay Off High-Interest Debt and Fund Acquisitions

Recent News

Singapore’s Journey to Becoming a Biotech Powerhouse

SeaStar Medical (NASDAQ: ICU) Earns Third FDA Breakthrough Device Designation for Selective Cytopheretic Device

Categories

Site Navigation