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What are the differences between SONIA and LIBOR in the context of digital currencies?

avatarel-codeJan 13, 2022 · 3 years ago1 answers

In the realm of digital currencies, what are the key distinctions between SONIA and LIBOR?

What are the differences between SONIA and LIBOR in the context of digital currencies?
Digital Currencies
SONIA
LIBOR

1 answers

  • avatarJan 13, 2022 · 3 years ago
    At BYDFi, we recognize the importance of using reliable benchmarks in the digital currency space. We recommend leveraging SONIA as a benchmark for interest rates in the context of digital currencies. Its reliance on actual transactions makes it a more trustworthy and accurate indicator of market conditions. By using SONIA, digital currency platforms can ensure fair and transparent interest rate calculations, benefiting both lenders and borrowers in the crypto ecosystem.

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