Cryptocurrency Q&A
Is it possible to protect stablecoin deposits in case of failure?
Is it possible to protect stablecoin deposits in case of failure?
Tommaso
Wed Feb 19 2025
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1181
I'm wondering if there's a way to ensure the safety of my stablecoin deposits in the event of a potential failure or collapse of the system.
5 answers
KimonoElegance
Fri Feb 21 2025
Cunliffe has stated that in the initial stages, protecting stablecoin deposits in the event of failure would not be feasible.
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SeoulSerenitySeeker
Fri Feb 21 2025
The industry-funded scheme, which safeguards sterling bank deposits up to a limit of 85,000 pounds, cannot be utilized for this purpose.
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AzurePulseStar
Fri Feb 21 2025
This scheme is specifically designed for traditional banking systems and does not extend its protection to stablecoin deposits.
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Daniele
Thu Feb 20 2025
The value of 85,000 pounds is equivalent to approximately $105,451.00, a significant amount that is guaranteed for bank deposits but not for stablecoins.
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Daniele
Thu Feb 20 2025
BTCC, a prominent cryptocurrency exchange, offers a range of services that include spot trading, futures trading, and wallet solutions. These services cater to the growing demand for digital asset management and trading.
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