Review and compare stabilio USDT, TUSD, USDC, PAX

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Good evening, dear readers!

 

Today I want to talk about stalking, or at least the most famous of them: Tether (USDT), USD coin (USDC), TrueUSD (TUSD) and Paxos Standard (PAX). Chose, in my opinion, the most interesting projects in comparison with USDT.

Wikipedia gives the following definition: “Stablon (also stablein, stablein, from the English. stablecoin) — common name crypto-currencies that are tied to stockpiles of conventional currencies or physical commodities (gold, oil) and exchange rates which are less prone to fluctuations than typical courses of cryptocurrency”.

At the time of writing on coinmarketcap by market capitalization and price things like this (ordinal — ranking by market capitalization on coinmarketcup):

8. USDT, price $0.9949, capitalization $1 933 954186,

44. TUSD, price $1.01, market capitalization of $181 108 028

57. USDC, price $1.01, market capitalization of $126 421 949

67. PAX, price $1.01, market capitalization of $98 021 071

Incidentally, it is worth noting that the price of USDT today is on par with the dollar, so soon should be aligned and the price of bitcoin on the major exchanges. On the background of the Tether remaining stabiliry in market share now seem, to put it mildly, weak. But, this is, their time will come.

1. Tether (USDT). Go to the official website and try to purchase – nothing will come of it, registration is temporarily suspended.

Where to buy: most large and small exchanges (Binance, Bitfinex, OKEx, Huobi, etc.)

Main application: fixing of positions on the exchange, instant money transfers between users.

Emission regulation: no

The official app for smartphone: no

I/o card/Bank account in the system: access personal account on the site, no information

Website: https://tether.to

 

Now look at the relatively recently introduced stabilini, they have a slightly different idea, tokenization and material assets and intellectual property rights. Also, these coins conform to the rules of international regulators, which means that to purchase it will be necessary to verify the identity corresponding to the criteria of KYC/AML.

2. Trust token (True USD). Here is what the team on their website: “TrustToken is a platform for generating tokens backed by assets that can be easily bought and sold around the world: for example, gold or dollars. Our mission is to democratize financial opportunities and unlock capital through trade with assets all around the world.”

On the official website of the token can not buy yet, you can only fill out an application on participation in the presale, then when its favorable consideration, it is necessary to pass the procedure of accreditation on the compliance to KYC/AML, and only then you will be allowed to participate in presale the remaining part of the token.

Where to buy: Binance, Digifinex, Kryptono, OKEx, and others.

Main application: the tokenization of physical and financial assets and intellectual property rights.

Yet he is never confronted with the use of TUSD in real life (or the ability to pay them somewhere), so I’ll defer this question.

Emission regulation: Yes

I/o card/Bank account in the system: there, but not available for new users

The official app for smartphone: no

Website: https://www.trusttoken.com

3. USD coin (USDC). So far, out of the considered three the work product. When replenishing his purse, for example, at $100, the system 100 generates the USDC, which you can transfer to other users or to the exchange. If you want to bring back their $100, after the completion of the transaction 100 USDC will be destroyed. That is, each coin in the system provided real money. Just and reasonable.

On the official website you need to go through simple verification procedure (a passport photo, address, phone, email), it takes no more than 10 minutes, and make your first purchase in the amount of$ 5, thus confirming your Bank account. Unfortunately, in Russia is not working.

Main application: the tokenization of financial assets

Where to buy: on the website or in the app, on the stock exchange (Poloniex, OKEx, CoinEX, KuKoin, etc.)

Emission regulation: Yes

I/o card/Bank account: Yes

The official app for smartphone: Yes

Website: www.circle.com, https://www.centre.io

4. Paxos Standard (PAX). The identity verification is identical to a USDC, but the processing takes 3-5 business days. Overall, PAX and USDC look like a very similar product.

Main application: the tokenization of financial assets

I/o card/Bank account: Yes

Where to buy: on the website or on the stock exchange (Binance, KuKoin, OKEx, Huobi, etc.)

Emission regulation: Yes

The official app for smartphone: no

Website: https://www.paxos.com

 

Tether with the current financial problems, sudden dump of course and vague policy of the company in relation to the regulators in the future are clearly losing the other three companies. USDT was the first, due to this he currently is the leader in market capitalization, the number of users and coverage marketplaces. With the arrival of new players in this niche and their intensive development, the time is clearly not on the side of the Tether.

If you look at the whole picture, we see the emergence of a new payment system with instant translations, almost no Commission for transfers within the system (however, have a little to share with the Bank transaction for the first purchase of coins), the ability to tokenservice almost any financial and digital assets. Then everything will grow, and I would not be surprised if soon it will be possible to pay in stores worldwide via PAX or any other stablein.

In fact, we get the following diagram: Bank account—> gateway, payment system (PS)—> your e-wallet with the possibility of instant almost free/instant transfers to participants worldwide/payment of goods and services in the application (in the future)/tokenization of your assets and intellectual property.

Yes, in Russia the Internet-banking can offer about the same, but there is a caveat – the cost, speed and restrictions on international transfers (in some cases, the transfers, the Bank has the Bank). And it is necessary to consider: some businesses (and not only) the speed and cost of transactions is critical.

If you read this text, and did not understand what stabilini and payment system based on the blockchain, here is a simple example: remember the first credit cards appeared on the Russian market for years…let it be 15 ago. Most people have not seen the sense in them, did not understand why they receive a salary at the map, if you can collect it in cash. And now compare with what we have today – I think many of you already pay for purchases in stores with a tap of your phone, and don’t know how they lived without it before.

Still have to add a spoonful of tar. To my opinion, and not only, unfortunately, these financial products are not available in Russia and most countries of the former CIS. So one can only hope that someday these payment systems will work and we have.

 

 

Author: Alexlucky

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