# Add another bunch of stablecoins **URL:** \ **Category:** Governance & Proposals\ **Created:** [May 17, 2021, 7:08am UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112 "2021-05-17T07:08:05Z")\ **Posts on this page:** 14\ **Page:** 1
**Author:** ![Dinodolph](https://sea2.discourse-cdn.com/terra/user_avatar/classic-agora.terra.money/dinodolph/32/377_2.png) [@Dinodolph](https://classic-agora.terra.money/u/Dinodolph)\ **Post date:** [May 17, 2021, 7:08am UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112/1 "2021-05-17T07:08:05Z")
The exponential growth of the Terra community and its ecosystem, with new ideas surging every day and with projects in development like localterra, that will facilitate the exchange of Terra stablecoins and use cases, has created a desire for more stablecoins. **Proposal** Let´s add: - TWD - BRL - RUB - MXN - SAR - MYR - PLN - IDR - AED With these additions, Terra will cover the top 23 fiat currencies by market cap according to [FiatMarketCap.com](https://fiatmarketcap.com). Edit: The tobin tax proposed for each currency is base on the comparison of their liquidity against the ones that we already have and adjusted according to the tax that it´s applied to the others. [Foreign exchange turnover (2019)](https://www.bis.org/statistics/rpfx19_fx.pdf) **Type** Parameter-change **Changes** > ``` > [ > { > "key": "whitelist", > "value": "[ > {\"name\":\"ukrw\",\"tobin_tax\":\"0.010000000000000000\"}, > {\"name\":\"usdr\",\"tobin_tax\":\"0.003500000000000000\"}, > {\"name\":\"uusd\",\"tobin_tax\":\"0.003500000000000000\"}, > {\"name\":\"umnt\",\"tobin_tax\":\"0.020000000000000000\"}, > {\"name\":\"ueur\",\"tobin_tax\":\"0.003500000000000000\"}, > {\"name\":\"ucny\",\"tobin_tax\":\"0.003500000000000000\"}, > {\"name\":\"ujpy\",\"tobin_tax\":\"0.003500000000000000\"}, > {\"name\":\"ugbp\",\"tobin_tax\":\"0.003500000000000000\"}, > {\"name\":\"uinr\",\"tobin_tax\":\"0.003500000000000000\"}, > {\"name\":\"ucad\",\"tobin_tax\":\"0.003500000000000000\"}, > {\"name\":\"uchf\",\"tobin_tax\":\"0.003500000000000000\"}, > {\"name\":\"uhkd\",\"tobin_tax\":\"0.003500000000000000\"}, > {\"name\":\"usgd\",\"tobin_tax\":\"0.003500000000000000\"}, > {\"name\":\"uaud\",\"tobin_tax\":\"0.003500000000000000\"}, > {\"name\":\"uthb\",\"tobin_tax\":\"0.007500000000000000\"}, > {\"name\":\"usek\",\"tobin_tax\":\"0.003500000000000000\"}, > {\"name\":\"unok\",\"tobin_tax\":\"0.003500000000000000\"}, > {\"name\":\"udkk\",\"tobin_tax\":\"0.003500000000000000\"}, > + {\"name\":\"utwd\",\"tobin_tax\":\"0.004500000000000000\"}, > + {\"name\":\"ubrl\",\"tobin_tax\":\"0.004000000000000000\"}, > + {\"name\":\"urub\",\"tobin_tax\":\"0.004000000000000000\"}, > + {\"name\":\"umxn\",\"tobin_tax\":\"0.003500000000000000\"}, > + {\"name\":\"usar\",\"tobin_tax\":\"0.012000000000000000\"}, > + {\"name\":\"umyr\",\"tobin_tax\":\"0.013000000000000000\"}, > + {\"name\":\"upln\",\"tobin_tax\":\"0.006500000000000000\"}, > + {\"name\":\"uidr\",\"tobin_tax\":\"0.008000000000000000\"}, > + {\"name\":\"uaed\",\"tobin_tax\":\"0.012000000000000000\"} > ]", > "subspace": "oracle" > } > ] > > ``` **Benefits.** - As always, > [@TIP 23: Add lots of new stablecoins](https://classic-agora.terra.money/t/tip-23-add-lots-of-new-stablecoins/273/1): > > users on Terra would be able to gain access to many more currency pairs on Terra swaps, making it a much more viable option for fx trades. - An immense increase in Terra’s world coverage, creating an opportunity to access the millions expend between countries. Like the ones involved in multilateral free-trade agreements: The North American Free Trade Agreement (Canada, USA, Mexico). The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (we will be covering 6/11). The Regional Comprehensive Economic Partnership (8/15). And let´s not forget the dozens of bilateral free-trade agreements that could be using Terra. - Bringing Terra to some of the missing world’s top 30 exporting countries allowing every merchant to get paid with Terra. - Access to the millions in remittances, like the US-Mexico and UAE-India. Here are some numbers from last year: UAE – $43 billion sent. Saudi Arabia – $34.5 billion sent. Mexico – $40.6 billion received. **Cost** Also, as always > [@TIP 23: Add lots of new stablecoins](https://classic-agora.terra.money/t/tip-23-add-lots-of-new-stablecoins/273/1): > > Oracle feeder providers will have to upgrade software to support the new pairs being added, and validators will have to make sure they run the new and upgraded software. Submitting oracle votes will also now be slightly more expensive. **P.S** I’m assuming that proposal 83 will pass base on the current turnout. In any case, I’ll wait until it gets approved before the proposal is submitted onchain. ---
**Author:** ![Det\_CtrlshftN](https://avatars.discourse-cdn.com/v4/letter/d/439d5e/32.png) [@Det\_CtrlshftN](https://classic-agora.terra.money/u/Det_CtrlshftN)\ **Post date:** [May 18, 2021, 12:29am UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112/2 "2021-05-18T00:29:48Z")
What’s the use cases for the current fiat stablecoins that we have? For example, AUT (Aus Dollar), other than being able to hold it in your terra station what else can you do with it? Not being critical just genuinely curious because if we could get AUT functionality into Anchor and be able to deposit Aus Dollars for 20% it’s game over… Progressively put more fiat stablecoins onto Anchor and you eliminate currency risk, with ozone coming soon you eliminate a lot of the 2 risks - smart contract & currency… Any updates or thoughts on this? ---
**Author:** ![ibelong2u](https://avatars.discourse-cdn.com/v4/letter/i/fbc32d/32.png) [@ibelong2u](https://classic-agora.terra.money/u/ibelong2u)\ **Post date:** [May 18, 2021, 4:29am UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112/3 "2021-05-18T04:29:54Z")
From a consumer perspective, holders of tethered currency can use it for regular transactions in real world since it’s pegged 1:1 with the real world fiat currency. If you want to buy milkshake for 5 USD from a vendor and both of you have Terra wallet, you can just transfer 5 UST - and done. You do not have to think about blockchain, crypto price fluctuation, etc. Your transaction are instant, can be of any amount, and cannot be monitored or stopped by any government authority. This is already happening in South Korea with [Chai wallet](https://chai.finance/). ---
**Author:** ![CryptoKris](https://sea2.discourse-cdn.com/terra/user_avatar/classic-agora.terra.money/cryptokris/32/572_2.png) [@CryptoKris](https://classic-agora.terra.money/u/CryptoKris)\ **Post date:** [May 18, 2021, 5:56am UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112/5 "2021-05-18T05:56:01Z")
You’ll definitely have my support with this vote on chain. We were excited to see MXN in your basket. I was about to create my own proposal for Mexico until I was linked to this post in Discord. Thanks! ---
**Author:** ![CryptoKris](https://sea2.discourse-cdn.com/terra/user_avatar/classic-agora.terra.money/cryptokris/32/572_2.png) [@CryptoKris](https://classic-agora.terra.money/u/CryptoKris)\ **Post date:** [May 18, 2021, 6:02am UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112/6 "2021-05-18T06:02:15Z")
I would think that many of these stablecoins would make it into Anchor eventually. If not, there’s nothing stopping anyone from creating a competitor that accepts single or multiple stablecoins other than UST. Also consider if anyone created country specific payment apps like what we see in Kash or Chai that primarily used a countries specific Terra stabelcoin for payments, investing, defi, and savings. ---
**Author:** ![yjkim](https://avatars.discourse-cdn.com/v4/letter/y/c77e96/32.png) [@yjkim](https://classic-agora.terra.money/u/yjkim)\ **Post date:** [May 18, 2021, 1:02pm UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112/7 "2021-05-18T13:02:18Z")
We also need to adjust KRT’s Tobin Tax, which was adjusted last time as a Bithumb premium issue. ---
**Author:** ![h3nno](https://avatars.discourse-cdn.com/v4/letter/h/71c47a/32.png) [@h3nno](https://classic-agora.terra.money/u/h3nno)\ **Post date:** [May 18, 2021, 10:34pm UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112/8 "2021-05-18T22:34:53Z")
Please add ZAR to the list if possible. South Africa is a country that has a high amount of p2p transaction volume and I’m working on a project (early stages)that would promote the use of this. ---
**Author:** ![ummxlied](https://avatars.discourse-cdn.com/v4/letter/u/bc79bd/32.png) [@ummxlied](https://classic-agora.terra.money/u/ummxlied)\ **Post date:** [May 19, 2021, 1:17am UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112/9 "2021-05-19T01:17:13Z")
Please add to CLP - Chilean peso. ---
**Author:** ![Futon](https://sea2.discourse-cdn.com/terra/user_avatar/classic-agora.terra.money/futon/32/786_2.png) [@Futon](https://classic-agora.terra.money/u/Futon)\ **Post date:** [July 6, 2021, 5:14am UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112/10 "2021-07-06T05:14:39Z")
Hey, really love the idea of adding a bunch of the top fiat currencies to Terra. Are you still planning on proposing this or is there something preventing it? ---
**Author:** ![CryptoKris](https://sea2.discourse-cdn.com/terra/user_avatar/classic-agora.terra.money/cryptokris/32/572_2.png) [@CryptoKris](https://classic-agora.terra.money/u/CryptoKris)\ **Post date:** [July 25, 2021, 10:09pm UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112/11 "2021-07-25T22:09:16Z")
Is this potential proposal still active? ---
**Author:** ![dokwon](https://sea2.discourse-cdn.com/terra/user_avatar/classic-agora.terra.money/dokwon/32/28_2.png) [@dokwon](https://classic-agora.terra.money/u/dokwon)\ **Post date:** [July 26, 2021, 6:24am UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112/12 "2021-07-26T06:24:50Z")
This already happened several months ago - you can check out which currencies are active on terra station. ---
**Author:** ![CryptoKris](https://sea2.discourse-cdn.com/terra/user_avatar/classic-agora.terra.money/cryptokris/32/572_2.png) [@CryptoKris](https://classic-agora.terra.money/u/CryptoKris)\ **Post date:** [July 26, 2021, 1:39pm UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112/13 "2021-07-26T13:39:41Z")
Ahh, true, but not all of them on the list are on Terra. MXN, specifically. I guess I’ll need to do my own proposal to get the Mexican Peso on there. Thanks for the reply! ---
**Author:** ![bulletninja](https://sea2.discourse-cdn.com/terra/user_avatar/classic-agora.terra.money/bulletninja/32/1005_2.png) [@bulletninja](https://classic-agora.terra.money/u/bulletninja)\ **Post date:** [August 28, 2021, 6:15am UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112/14 "2021-08-28T06:15:29Z")
Was thinking of doing the same! ---
**Author:** ![Mateus\_Rapini](https://sea2.discourse-cdn.com/terra/user_avatar/classic-agora.terra.money/mateus_rapini/32/2880_2.png) [@Mateus\_Rapini](https://classic-agora.terra.money/u/Mateus_Rapini)\ **Post date:** [April 21, 2022, 7:34pm UTC](https://classic-agora.terra.money/t/add-another-bunch-of-stablecoins/1112/15 "2022-04-21T19:34:48Z")
Really curious to know if you tried to get this approved. I just proposed here to create BRL stablecoin but no one even replied. I’m afraid of proposing it and loosing the 50 Luna out of lack of quorum.