The article explores the challenges of stablecoins breaking free from their reliance on the U.S. dollar. According to the report, almost all stablecoins are pegged to the dollar. The analysis considers experiments involving baskets of currencies and commodities, highlighting the difficulty in loosening the dollar's grip on the stablecoin market. The development suggests that alternative approaches to stablecoin backing face significant hurdles in gaining traction.

The article explores the challenges of stablecoins breaking free from their reliance on the U.S. dollar. According to the report, almost all stablecoins are pegged to the dollar. The analysis considers experiments involving baskets of currencies and commodities, highlighting the difficulty in loosening the dollar's grip on the stablecoin market. The development suggests that alternative approaches to stablecoin backing face significant hurdles in gaining traction.