The article addresses the prevalent reliance of stablecoins on the U.S. dollar. According to the report, the vast majority of stablecoins are pegged to the dollar. The analysis explores the difficulties in breaking away from this established peg, referencing experiments involving alternative backing methods such as baskets of currencies and commodities. The report suggests challenges exist in diversifying stablecoin backing beyond the U.S. dollar.

The article addresses the prevalent reliance of stablecoins on the U.S. dollar. According to the report, the vast majority of stablecoins are pegged to the dollar. The analysis explores the difficulties in breaking away from this established peg, referencing experiments involving alternative backing methods such as baskets of currencies and commodities. The report suggests challenges exist in diversifying stablecoin backing beyond the U.S. dollar.