US dollar-denominated sovereign bond issued by another sovereign country
#asknostr anyone understands underlying principle btw ?
maybe looking from another angle
PAXOS issues PAXG
TETHER issues XAU
both hodl underlying asset - very clear
in case 2nd country issues BOND in denominated in another country currency
do the need hodl asset in that currency or just credibility to settle in that currency ? that's puzzle
PAXOS issues PAXG
TETHER issues XAU
both hodl underlying asset - very clear
in case 2nd country issues BOND in denominated in another country currency
do the need hodl asset in that currency or just credibility to settle in that currency ? that's puzzle