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Collapsed stablecoin TerraUSD announces recovery plan, seeks outside funds

Stablecoins are digital tokens pegged to the value of traditional assets, such as the US dollar.

Topics
cryptocurrencies | US Dollar | digital transactions

Reuters  |  Hong Kong/ London 



digital, online, e-commerce, super apps

TerraUSD, the so-called stablecoin which unexpectedly broke its dollar peg this week, will adjust its complex pegging mechanism in an attempt to stabilise the cryptocurrency, its co-founder said in a tweet on Wednesday.

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First Published: Wed, May 11 2022. 17:42 IST

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