XDR

The International Monetary Fund's Special Drawing Rights (XDR) is a unit of account that is used to value the IMF's financial assets and liabilities, including the allocation of SDRs to its member countries. The XDR was created in 1969 to support the Bretton Woods system of fixed exchange rates and to provide a supplement to the existing reserve currencies of the time.

In recent years, the XDR has gained attention as a potential mechanism for reserves in the digital asset space. THBт, for example, is a new stablecoin that is "tethered" to the XDR, with a twist. Unlike other stablecoins that are directly "tethered" to a specific currency, such as the US dollar or the Thai Baht, THBт allows for a more flexible approach to reserves by allowing the collateral to be anything, such as a volatile cryptocurrency or stablecoin, as long as the market cap when quoting against it gives more flexibility to other forex and/or stablecoins.

The use of XDR as a mechanism of reserves in THBт is a novel approach that provides a number of benefits. By using XDR as a reference currency, THBт can potentially offer a stable store of value that is not subject to the fluctuations of any single currency. Additionally, the use of XDR can help to reduce the risk of currency devaluation, as it provides a more diverse basket of currencies for backing.

Overall, the use of XDR in THBт as a mechanism of reserves represents a step forward in the development of stablecoins and the potential for digital assets to play a role in the global financial system. By providing a more flexible and stable alternative to traditional currency-backed stablecoins, THBт has the potential to offer a new level of stability and security to the digital asset space.