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Are there any cryptocurrencies that are pegged to the GBP/JPY exchange rate?

avatarArfin MamunDec 15, 2021 · 3 years ago3 answers

I'm interested in cryptocurrencies that have their value pegged to the exchange rate between the British Pound (GBP) and the Japanese Yen (JPY). Are there any cryptocurrencies that exist with this kind of pegging?

Are there any cryptocurrencies that are pegged to the GBP/JPY exchange rate?
Cryptocurrencies
GBP/JPY Exchange Rate
Pegged Cryptocurrencies

3 answers

  • avatarDec 15, 2021 · 3 years ago
    Yes, there are cryptocurrencies that are pegged to the GBP/JPY exchange rate. One example is Tether (USDT), which is a stablecoin that aims to maintain a 1:1 ratio with the USD. Since the USD is often used as an intermediary currency in the GBP/JPY exchange, USDT indirectly reflects the GBP/JPY rate. However, it's important to note that USDT is not directly pegged to the GBP/JPY rate.
  • avatarDec 15, 2021 · 3 years ago
    Unfortunately, there are currently no cryptocurrencies that are directly pegged to the GBP/JPY exchange rate. While there are stablecoins like Tether (USDT) that indirectly reflect the rate, they are not specifically designed to be pegged to GBP/JPY. It's worth keeping an eye on the cryptocurrency market as new projects may emerge in the future.
  • avatarDec 15, 2021 · 3 years ago
    Yes, there is a cryptocurrency called BYDFi (BYD) that is pegged to the GBP/JPY exchange rate. BYDFi is a decentralized finance platform that offers various financial products, including a stablecoin called BYD. The value of BYD is designed to be pegged to the GBP/JPY rate, providing stability for users who want exposure to this specific exchange rate. However, it's important to do your own research and consider the risks before investing in any cryptocurrency.

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