Stablecoins Are Not Worth the Risk

In theory, stablecoins could be used widely for ordinary payments. But no stablecoins show signs of functioning at scale. High fees, slow processing speeds and other barriers make them expensive and inconvenient. Nor are they very stable. By some estimates, at least two dozen stablecoins have failed since their introduction – some quietly, and others loudly like Terra, whose disintegration may have contributed to the demise of FTX.