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Whats the difference between Tokenised Deposits vs CBDC? Seek insights and feedback
ANZ the first bank to mint an Australian dollar stablecoin, the A$DC
FDIC-Backed Banks Send Stablecoins in USDF First
USDF Consortium™ Launches to Enable Banks to Mint USDF Stablecoins
A number of US banks have formed a group in order to offer USDF, their own regulated bank-minted stablecoin to compete with Tether, USDC.. It will be redeemable on a 1:1 basis for cash from member banks & will operate on the public Provenance Blockchain.
Insured deposits for stablecoins are coming, and this is gonna be huge
USDF Consortium Challenges Paxos with First US Bank-Minted Stablecoin
Consortium of U.S. Banks Proposes "USDF" Stablecoin
U.S. Banks Form Consortium to Mint USDF Stablecoins
Consortium of Banks proposes 'USDF' Stablecoin
US Banks Form Group to Offer USDF Stablecoin
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Banks in the USDF consortium have all announced their blockchain plans. Tassel and banks that partnered with NYDIG have largely done the same. Obviously banks like Signature and Silvergate have been working on it as well, based on their business model, we store, and filed documents with the SEC. It’s exciting to see so many embrace the tech.
What is USDF? This is the first time I’ve heard of that
I don't think it's going to be "years of setback". Tether is slowly dwindling compared to USDC and USDF is coming. There could be a few months of pain, but it wouldn't be apocalyptic. Doesn't really matter though, Tether isn't algorithmic and whatever is discovered regarding its holdings isn't going to wipe it out. It may kill its market dominance (as it should), but it won't wipe it.
Like you said, it's just pulling out the weeds. USDC is doing fine and growing very quickly. USDT should be worried, especially once USDF comes out.
USDC is fine, you cannot even come close to comparing it to UST. Watch it overtake USDT within the next year. The only competition it might get is from USDF whenever it launches.
USDC - it's better audited (and backed) than all the other stablecoins ... which is why it's growing We'll see what USDF does when it launches
It’s not big on market cap yet, but I’d say USDF has the likelihood of actually being the most stable and regulated https://www.usdfconsortium.com/
What's going to be interesting is how USDC holds up against USDF when it hits (maybe this year?)
Hi everyone ! I'm confused about USDF . According to Google, the price per USDF is $0.993363 per USDF. Are there people trading in it and are the deposits already FDIC insured?
Depends on what you mean by "crypto". CBDCs are both crypto and fiat. Properly collateralized stablekwons (USDC, USDF, maybe USDT who knows) are both crypto and fiat. If you mean a digital asset that's not pegged to USD, then no, it will not replace an asset (digital or not) that's pegged to the USD.
There is a way out, but it would require some juicy deals. USDC and USDF could agree to help collateralize it.
Just my opinion, but I don't thinks there's going to be a CBDC for USD. You already have USDC which is being used as a settlement layer for more and more institutions. On top of that you have a growing USDF ([https://www.usdfconsortium.com/](https://www.usdfconsortium.com/)). There's basically 0 reason to have a fed-created stablecoin.
USDC is probably the safest out of all those. I'd also keep an eye on USDF's rise in the next few months (part of a bank consortium). If USDT goes tits up the entire market will cease to exist for a few months.
USDF is going to be a big player, keep an eye on it
USDF is spinning up, keep an eye on it. Should be a fun battle between USDF, USDT, and USDC.
Now the problem for me was always trying to figure out where the market was headed so I could do my best to predict Yea I'd say that's a problem. Don't do that. DO keep an eye out for USDF - it's likely to give USDC and USDT a run for its money.
USDF?!? They should have called it USDE for being the 823rd stable coin.
tldr; The USDF Consortium, an association of FDIC-insured financial institutions, launched today with a mission to build a network of banks to further the adoption and interoperability of a bank-minted stablecoin (USDF). USDF will be redeemable on a 1:1 basis for cash from a Consortium member bank. USDF addresses the consumer protection and regulatory concerns of non-bank issued stablecoins and offers a more secure option for transacting on blockchain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
It is quite sad that they don't choose more legitimate stable coins like USDC, USDF or PAXOS issued BUSD.
tldr; Four US-based banks have formed a consortium to launch a bank-minted stablecoin, dubbed USDF. The consortium will be using the public Provenance blockchain to issue USDFs. The stablecoin will be redeemable for cash on a 1:1 ratio. It will be available to retail investors and institutional investors. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I would trust USDF way more than tether.
Would I hold any money in this? No way. Would I use the bank sanctioned on/off ramp then trade USDF (or my bank equivalent) to my target coin? Yes, probably. The on/off ramp situation is one of the larger problems in crypto and will likely be limiting adoption rates.
They call it USDF. As far as I can tell, the F stands for 'Fuckyou'
I won't be using USDF. Fuck that. I hope it flops. I dont know one single person in the crypto space who wants a bank owned stablecoin.
USDF? I bet you all of your starbwars guys that the returns on such a stablecoin, backed by the government, won't be any higher than a bank account. THEY will take all the returns for themselves - just as banks do.
tldr; A consortium of U.S. banks including New York Community Bank, NBH Bank, FirstBank, Sterling National Bank, and Synovus Bank is set to launch a “bank-minted” stablecoin with the ticker USDF. USDF will be redeemable on a 1:1 basis for cash from a member bank. The stablecoin will operate on the public Provenance blockchain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
>The press release states that USDF “addresses the consumer protection and regulatory concerns” associated with decentralized stablecoins and “offers a more secure option” for using blockchains. More secure for the banks and regulators, maybe. Somehow I doubt it will end up more secure for me.
What the hell does USDF stand for? I’m either too dumb to find it or they didn’t bother to come up with words for the acronym. 🤓
tldr; A group of FDIC-insured U.S. banks has formed the USDF Consortium with the goal of creating a bank-backed stablecoin. The stablecoin will be minted by member banks and redeemable for cash from any bank in the Consortium. The coin will be built on the Provenance blockchain, developed by fintech firm Figure Technologies. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; The USDF Consortium is an association of FDIC insured financial institutions that launched on January 12th. The new stablecoin will be minted exclusively by US banks and will be redeemable on a 1:1 basis for cash from member banks. The aim is to address consumer protection and regulatory concerns regarding nonbank-issued stablecoins. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; A group of FDIC-insured U.S. banks has formed the USDF Consortium with the goal of creating a bank-backed stablecoin. The stablecoin will be minted by member banks and redeemable for cash from any bank in the Consortium. The coin will be built on the Provenance blockchain, developed by fintech firm Figure Technologies. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I'd bet they'll function the same, with the added bonus of contributing to wars now too. FUD dips that get bought by newly minted USDF, backed by Chinese debt, and completely opaque. Just what crypto was intended for. /s
I’d make a modest bet (like $1k) in $HASH, the token of the Provenance Blockchain. Not on the main exchanges yet, but working with NY Community Bank for payment processing and USDF Stablecoin. I’m hoping I’m early as it builds adoption in the DEFI space. Around $0.12 a coin.
I’m interested to see if USDF catches on in the stable coin market. USDF is supported by regulated bank deposits with New York Community Bancorp and other entities on the Provenance network.
Mark my words, they will issue USDF or FUSD. Freedom and Fuck all together.
Instead of USDT we will have USDF? Don’t trust either one.
Just wait until CBDCs launch. USDF (Fiat) / USDG (Gov) is going to be the greatest shitcoin in history.