US dollar to face growing competition for stablecoin dominance: Tether co-founder

While United States dollar-denominated stablecoins dominate the stablecoin and real-world asset (RWA) tokenization game, other competitors are coming into play, according to Tether co-founder Reeve Collins. 

Speaking to Cointelegraph in Dubai, Collins said that while USD-backed stablecoins may currently dominate, other currencies and assets may compete to back stablecoins. He said: 

“The stablecoin definitely helps preserve the dollar dominance, especially in the crypto space. The dollar is kind of the reserve currency of crypto. But now there are…