When will there be EUR/AUD/HKD/etc variations of DAI?

Currently DAI is a USD stablecoin, which is great for those dealing with USD. However, the layman thinks in their local currency, so when transacting with them, they are expecting the local. While DAI could be the base currency, and wallets just show a local currency value of the DAI, I think for many, it is better to just receive in stablecoins pegged to their local currency, as they know that throughout the year, they can still purchase the same amount of local things.

As such, it would be nice to see the technology behind DAI also be applied to all the different fiat currencies, such that in Australia, I can send businesses and friends the AUD stablecoin via my Argent wallet, and in Malaysia I can send a MYR stablecoin, with easy manual conversion between them (or even completely automatic conversion — whatever I receive, convert it to DAI).

2 Likes

IMO, that is the most urgent feature now because of:

  • user demand

  • decentralization

DAI will grow on its own at least until $500M - no need for much dev/governance effort besides increasing the debt ceiling. I wonder why it takes so long for devs to finalize how other currencies will work and to release a roadmap for that.

1 Like

This is a super post and it would need to be set as a priority task i also think .

Keep in mind that, expanding is demanding in term or effort, communication, relation with partner’s, time-demanding and most of them monetary issue.We also need to consider right now is the holiday’s period, but still a good timing because most of the people have festive mind right now and are off-work. But doing a world expansion is something that is taking time but will happen of course.

This need to be seriously revised and taking care off but with the good person that are already working on the project.

@balupton Yes, this is great i think. While DAI is and will always be equivalent to the US dollars , is it good news for many people and they will always say in their mind that they have no loss value if they don’t spend now or later.

There is a part where we don’t really have power to push things up but it’s getting there. More BTC Atm and more and more business or restaurants and stores have a BTC machine where you can do easy transaction. Good for trader’s also i think you can play from different point of view and not risking your money with stablecoin if aware of a incoming downvalue and good for Mister and Miss who can use them on a daily routine.