The History of Stablecoins

Cassandra: Some of the smaller stablecoins were serving in some way as an en ramp or a backing for other larger, more important stable coins. Wobi minted 10 and a half billion Wobi dollars two years ago now; they had a balance of $250 million Wobi dollars. Cassie: They make use of trusts and other similar types of custodyist providers in jurisdictions that are not absolutely top tier. It feels like that might have been, of course it now clearly was, a bit of a weakness in the system to get money in.