pegged

Stablecoins, such as USD1, are typically pegged to the dollar and backed by an equivalent amount of reserves, while other tokens, such as WLFI, swing in price on exchanges depending on investor demand.

A boom in stablecoins -- cryptocurrencies designed to hold a steady value by being pegged to traditional assets -- calls for "close monitoring", ECB economists warned Monday.

Short interest in the stock has spiked as well, with around 20.5 million shares pegged to bets against the company, or around 1.2% of Oracle’s outstanding float.

They plan to build Clearing’s platform on top of blockchain technology, using stablecoins—digital tokens pegged to the dollar—to settle trades.

It will do so by increasing demand for Treasuries, since by law stablecoins need to be pegged to U.S. assets.