Published in


Payment: The race between stable coins and CBDCs

The future of trade and supply chain finance is tokenised_Part 2

  • JPM Coin, a cryptocurrency run on private blockchain Quorum reportedly went live in late 2020 after 2 years in development. It is initially used to settle within the JP Morgan’s international network.
  • Paypal announced that they would launch a service to allow customers to spend Bitcoin and other cryptos at 26 million merchants on its network in 2021. This is anticipated to bring crypto currencies to the mainstream.
  • USDC is a stable coin guaranteed by off-chain deposit of USD. The crypto currency is therefore fiat-backed. The deposit is regularly audited. Through a partnership with Visa (above) and Coinbase we expect it to become a major player in the B2B payment space.
  • Dai, like USDC, pegs 1:1 to USD through an on-chain collateralised lending mechanism. Anyone can generate Dai by depositing Eth (which powers the Ethereum blockchain) and other acceptable collateral with a smart contract. It is expected that real-world assets such as invoices and loans could eventually be accepted as collateral, thus vastly increase the use of Dai in the real economy.
  • Diem is a stablecoin to be issued by Diem Association which was set up by Facebook and 26 other organisations. It is pegged 1:1 against USD and targets specifically at the unbanked in emerging markets.



Untangled platform tokenises real world assets like invoices and loans and use them as collateral in DeFi lending protocols, on-chain money markets and digital asset investors

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store