I saw on the community call that it was mentioned that sUSD is one of the proposals to be added to the USD basket but not PAX, BUSD, and HUSD. Does that mean this proposal is dead? I see my title was edited to [Discussion].
Is there any downside to adding 3 stablecoins that are issued by one company for branding purposes? I see risk in stablecoins with unconventional ways of holding the pegs but not in this case where the reserves are backed 1:1 in a trust company.
However, I see that paxos.com only supports PAX and BUSD. It does not support HUSD natively which I think could be a reason not to list it for now…still I voted for it to be added because I think all the coins should be added…but I don’t know if there is a downside to having too many coins in the basket.
As of now, the market caps of each coin seem to be:
Thanks for your time and consideration. I really like Paxos because they are the only company that can go from wire transfer IN to stable coins OUT (in your own wallet) in 60-90 minutes. Same on the redemption side. (That’s from the moment they receive the wire–USA wires are near instant whereas international wires can take a few days and there are time zone considerations).