NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

Bitcoin Not Threatened by Cryptocurrency Launched by Laureate-Advised Firm

Thomas Delahunty
Thomas Delahunty
5 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Amidst regulatory uncertainty, U.K.-based Saga hopes to introduce a global digital currency that lawmakers and consumers alike find agreeable. The “stablecoin” (think Tether) is pegged to a basket of fiat currencies and is not anonymous, making it unlikely to win over Bitcoin enthusiasts who value the coin’s decentralized mode of operation.

Related Reading: Why There Remains a Case For a $4,200 Bitcoin (BTC) in 2020

Similarities with Bitcoin and Libra

Tuesday, November 10, the company launched its Saga (SGA) token, a digital currency tied to a basket of fiat currencies — a move made in attempts to make it less volatile. While SGA shares some similarities to stablecoins like Facebook’s Libra and true digital currencies like Bitcoin, there are some glaring differences.

Rather than creating a new asset basket-like Libra’s, Saga is pegging its token’s value to bank deposits in the same group of currencies that form the International Monetary Fund’s special drawing rights (SDR). These are international reserve assets — primarily dollars, as well as the euro, Chinese yuan, Japanese yen, and British pound — held by central banks to supplement their official reserves.

Another distinction from Libra is the fact that Saga apparently won’t be profiting from the coin and it’s only acting as an issuer of the token. SGA will initially be available to purchase on Saga’s website and is being listed on the cryptocurrency exchange Liquid.

“Unlike other players, we don’t want to be the issuer and the payments layer and the custodian,” Saga founder Ido Sadeh Man told major media outlet CNBC in an interview. “We’re focusing on the monetary part of it, on the issuance of a sound currency for global use, and we will increasingly liaise with partnerships in the realms of custodianship and of payments.”

Bitcoin, Saga
SAGA is now live on Liquid.

Not a Direct Threat

Saga says its offering is different as it encompasses “banking-grade compliance” with anti-money laundering checks that ensure the people transacting in the token aren’t anonymous.

With Bitcoin on the other hand, users are identifiable only by an alphanumeric address. This layer of protection is what many find so attractive about truly-decentralized coins.

Saga also claims its model provides a “democratic” alternative to Libra, which is being overseen by a consortium of 21 companies. In Saga’s case, “the holders are the sovereign of the currency,” according to Sadeh Man.

While this idea that SGA holders are the sovereigns of the currency sounds attractive, the claim that such holders will be able to vote on Saga’s board of directors and steer its monetary policy seems an almost impossible logistical feat.

And off the bat there’s already another big problem with Saga’s tokens: they aren’t regulated, and therefore won’t launch in the U.S. until it is clear the company is respecting compliance in the country.

Despite uncertainty about its future in the U.S., the coin will be available in other locales, though whether it will be a success remains to be seen. Will the coin scare off crypto traditionalists with its centralized issuance and lack of anonymity? Or will SGA’s promise of stability provide some assurance to those afraid of volatility currently associated with other digital currencies like Bitcoin?

Featured Image from Shutterstock
Tweet123Share206ShareSend
Thomas Delahunty
Thomas Delahunty

Thomas Delahunty

I’m Thomas J. Delahunty, born in Lancashire, England, but raised and currently residing in Columbus, Ohio where I attended The Ohio State University studying English and History.

Read more

After writing in the Fintech and Forex spaces, I began to focus on blockchain and cryptocurrencies — Bitcoin in particular — in 2016.

Aside from being part of NewsBTC’s journalism team, I am a writer and analyst for Ohio State’s Risk Institute at the Fisher College of Business, and run operations for two local, independent online businesses.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Solana, Monero, SUI, pump.fun, chainlink

Solana Eyes Massive Breakout Amid $240 Retest, But Analyst Issues Crucial Market Warning

Solana (SOL) could be near the long-awaited price discovery phase after climbing to a seven-month high. However, an analyst suggested...

Rubmar Garcia 7 hours ago
bitcoin price btc btcusd 1

Bitcoin Climbs Past $115,000 on Inflation Relief and ETF Flows, But Bearish Signals Loom

Bitcoin (BTC) has extended, surging to a three-week high of $115,500, fueled by softer U.S. inflation data and steady inflows...

James Halver 8 hours ago
Solana

Analyst Sets Bold $1,314 Target For Solana After Cup-And-Handle Breakout

A cryptocurrency analyst has pointed out how Solana may be moving toward a sky-high main target based on a cup-and-handle...

Keshav Verma 9 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Aave price

AAVE Price Reclaims $320 As TVL Metric Shows Positive Divergence — What’s Next?

Opeyemi Sule 36 minutes ago
Dogecoin

Dogecoin In Buy Zone: Bulls Eye $0.34 As Immediate Target

Semilore Faleti 2 hours ago
XRP

XRP Price At $23, Dogecoin To $2, And Solana At $1,800? Analyst Unveils 2026 Predictions

Scott Matherson 4 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の展望:ビットコイン提携とETF開始で次の暗号資産の巨人となるか

    ドージコイン...

    3 hours ago
  • 鯨が一晩で4,000万XRPを売却、リップル 今後は3ドルのサポートを維持できるか

    鯨が一晩で4,000万XRPを売却、リップル...

    4 hours ago
  • 暗号資産トレジャリーの苦境とQ4に狙う仮想通貨プレセール

    ...

    4 hours ago
  • 10月に上昇が期待される仮想通貨おすすめ6選

    ...

    4 hours ago
  • 新しい仮想通貨が投資家を最速で億万長者に導く ― 既存の「買うべき仮想通貨」を超えて

    ...

    4 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.