Every country seems to be talking about stablecoins, but it remains the case that only the United States has a stablecoin as such.
China is keeping up its pretenses by issuing another $4 million e-CNY in Shanghai, but that’s not really a stable. UK wants to regulate them, but there’s no pound stablecoin. The European Central Bank made the same mistake of talking about stablecoins as if they have any. But, why does usd dominate and is there room for others?