Peter Schiff plans to launch gold-backed token, criticizing USD-pegged stablecoins, positive.

From Yahoo Finance: 2025-06-20 13:53:00

Peter Schiff, known for his criticism of cryptocurrencies, plans to launch his own gold-backed token, questioning the value of U.S. dollar-pegged stablecoins. The U.S. Senate passed the GENIUS Act to regulate stablecoins, with the market expected to reach $3.7 trillion by the end of the decade.

Gold-backed tokens, with a market size of around $2 billion, are gaining traction as a store of value on blockchain. Efforts are being made to integrate gold tokens into decentralized finance applications, such as using them as collateral for loans.

Read more: Peter Schiff Says He ‘Gets Bitcoin’ But Not USD-Pegged Stablecoins, Floats Gold-Backed Token Plan