{"id":4390,"date":"2025-11-10T07:53:40","date_gmt":"2025-11-10T07:53:40","guid":{"rendered":"https:\/\/cryptonews.com\/cz\/?post_type=academy&#038;p=4390\/"},"modified":"2025-11-10T07:53:40","modified_gmt":"2025-11-10T07:53:40","slug":"co-je-stablecoin","status":"publish","type":"academy","link":"https:\/\/cryptonews.com\/cz\/academy\/co-je-stablecoin\/","title":{"rendered":"Co je stablecoin a jak funguje? Kompletn\u00ed pr\u016fvodce"},"content":{"rendered":"<p><b>Co je stablecoin?<\/b><span style=\"font-weight: 400\"> Jednodu\u0161e \u0159e\u010deno, jde o <\/span><b>kryptom\u011bnu s pevnou hodnotou<\/b><span style=\"font-weight: 400\">, kter\u00e1 se sna\u017e\u00ed udr\u017eet kurz stabiln\u00ed \u2013<\/span><b> nej\u010dast\u011bji v\u016f\u010di americk\u00e9mu dolaru, euru nebo jin\u00e9 m\u011bn\u011b<\/b><span style=\"font-weight: 400\">. Na rozd\u00edl od klasick\u00fdch kryptom\u011bn, jako je <a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/co-je-bitcoin\/\">bitcoin<\/a> nebo <a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/co-je-kryptomena-ethereum\/\">ethereum<\/a>, <strong>jejich cena <\/strong><\/span><b>nekol\u00eds\u00e1<\/b><span style=\"font-weight: 400\">, co\u017e z nich d\u011bl\u00e1 obl\u00edben\u00fd n\u00e1stroj pro <strong>platby, p\u0159evody pen\u011bz i uchov\u00e1n\u00ed hodnoty<\/strong>.<\/span><\/p><p><span style=\"font-weight: 400\">Dnes u\u017e ale existuj\u00ed <\/span><b>stovky r\u016fzn\u00fdch stablecoin\u016f<\/b><span style=\"font-weight: 400\">, a jejich tr\u017en\u00ed kapitalizace strm\u011b roste<\/span><span style=\"font-weight: 400\">. V posledn\u00edch letech nav\u00edc vznik\u00e1 <\/span><b>nov\u00e1 generace stablecoin\u016f<\/b><span style=\"font-weight: 400\">, kter\u00e9 nejsou v\u00e1z\u00e1ny jen na fiat m\u011bny, ale i na <\/span><b>komodity (nap\u0159. zlato)<\/b><span style=\"font-weight: 400\"> \u010di jin\u00e9 <\/span><a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/co-je-kryptomena\/\"><b>kryptom\u011bny<\/b><\/a><span style=\"font-weight: 400\">, \u010d\u00edm\u017e roz\u0161i\u0159uj\u00ed mo\u017enosti jejich vyu\u017eit\u00ed.<\/span><\/p><p><span style=\"font-weight: 400\"><div class=\"su-note\" style=\"border-color:#e0d5e5;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#faefff;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n<h3><span style=\"font-weight: 400\">Kl\u00ed\u010dov\u00e9 body<\/span><\/h3>\n<ul>\n<li><span style=\"font-weight: 400\">Stablecoiny si udr\u017euj\u00ed stabiln\u00ed cenu t\u00edm, \u017ee jsou podlo\u017eeny nap\u0159\u00edklad fiat m\u011bnami, komoditami, nebo jin\u00fdmi kryptom\u011bnami, kter\u00e9 zaji\u0161\u0165uj\u00ed jejich hodnotu.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Existuje n\u011bkolik typ\u016f: <\/span><b>fiat-backed<\/b><span style=\"font-weight: 400\">, <\/span><b>krypto-backed<\/b><span style=\"font-weight: 400\">, <\/span><b>komoditn\u00ed<\/b><span style=\"font-weight: 400\"> a <\/span><b>algoritmick\u00fd stablecoin<\/b><span style=\"font-weight: 400\">.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Regulace, nap\u0159\u00edklad <\/span>MiCA stablecoin<span style=\"font-weight: 400\"> v EU, kladou d\u016fraz na <\/span><b>transparentnost a zaji\u0161t\u011bn\u00ed rezerv<\/b><span style=\"font-weight: 400\">.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Komoditn\u00ed stablecoiny (nap\u0159. PAX Gold) umo\u017e\u0148uj\u00ed p\u0159\u00edstup ke zlatu \u010di rop\u011b bez nutnosti fyzick\u00e9 dr\u017eby.<\/span><\/li>\n<li><span style=\"font-weight: 400\">D\u00edky stabilit\u011b se stablecoiny pou\u017e\u00edvaj\u00ed v <\/span><b>DeFi, e-commerce i mezin\u00e1rodn\u00edch platb\u00e1ch.<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><\/span><\/p><\/div><\/div><\/span><\/p><figure id=\"attachment_4643\" aria-describedby=\"caption-attachment-4643\" style=\"width: 1122px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-4643\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05124427\/1762346667-1.jpg\" alt=\"Stablecoin definice\" width=\"1122\" height=\"688\" srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05124427\/1762346667-1.jpg 1122w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05124427\/1762346667-1-300x184.jpg 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05124427\/1762346667-1-1024x628.jpg 1024w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05124427\/1762346667-1-768x471.jpg 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05124427\/1762346667-1-450x276.jpg 450w\" sizes=\"auto, (max-width: 1122px) 100vw, 1122px\"><figcaption id=\"caption-attachment-4643\" class=\"wp-caption-text\">Stablecoin definice. Zdroj: investopedia<\/figcaption><\/figure><h2><span style=\"font-weight: 400\">Typy stablecoin\u016f<\/span><\/h2><p><span class=\"replacer\"><\/span><br>\n<span style=\"font-weight: 400\">Stablecoiny nejsou v\u0161echny stejn\u00e9. Li\u0161\u00ed se podle toho, <\/span><b>jak\u00fdm zp\u016fsobem udr\u017euj\u00ed stabilitu<\/b><span style=\"font-weight: 400\"> \u2013 a tedy podle aktiv, kter\u00e1 je kryj\u00ed. Ka\u017ed\u00fd typ m\u00e1 sv\u00e9 v\u00fdhody i slabiny a hod\u00ed se pro jin\u00e9 \u00fa\u010dely. Pokud tedy chcete pochopit, <\/span><b>jak funguj\u00ed stablecoiny v praxi<\/b><span style=\"font-weight: 400\">, je nutn\u00e9 zn\u00e1t jejich z\u00e1kladn\u00ed rozd\u011blen\u00ed.<\/span><\/p><h3><span style=\"font-weight: 400\">Stablecoiny kryt\u00e9 fiat m\u011bnami<\/span><\/h3><p><span style=\"font-weight: 400\">Tento typ stablecoinu je nejjednodu\u0161\u0161\u00ed a nejroz\u0161\u00ed\u0159en\u011bj\u0161\u00ed. Ka\u017ed\u00fd token je <\/span><b>kryt\u00fd re\u00e1ln\u00fdmi pen\u011bzi<\/b><span style=\"font-weight: 400\"><strong> ulo\u017een\u00fdmi v bance<\/strong>. Nap\u0159\u00edklad za ka\u017ed\u00fd <\/span><b>1 USDT<\/b><span style=\"font-weight: 400\"> m\u00e1 emitent Tether dr\u017eet <\/span><b>1 americk\u00fd dolar<\/b><span style=\"font-weight: 400\"> nebo jeho<\/span><b> ekvivalent v hotovosti \u010di kr\u00e1tkodob\u00fdch dluhopisech.<\/b><\/p><p><span style=\"font-weight: 400\">Tento model je srozumiteln\u00fd i pro laiky, proto\u017ee <\/span><b>funguje podobn\u011b jako m\u011bnov\u00e1 rezerva v bance<\/b><span style=\"font-weight: 400\">.<\/span><\/p><h4><b>P\u0159\u00edklady:<\/b><\/h4><ul>\n<li style=\"font-weight: 400\"><b>Tether (USDT)<\/b><span style=\"font-weight: 400\"> \u2013 nejstar\u0161\u00ed a nejroz\u0161\u00ed\u0159en\u011bj\u0161\u00ed stablecoin na sv\u011bt\u011b.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>USD Coin (USDC)<\/b><span style=\"font-weight: 400\"> \u2013 vyd\u00e1van\u00fd spole\u010dnost\u00ed Circle, zn\u00e1m\u00fd svou transparentnost\u00ed a m\u011bs\u00ed\u010dn\u00edmi audity.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>PayPal USD (PYUSD)<\/b><span style=\"font-weight: 400\"> \u2013 nov\u00fd stablecoin ur\u010den\u00fd pro online platby v ekosyst\u00e9mu PayPal a Venmo.<\/span><\/li>\n<\/ul><p><span style=\"font-weight: 400\"><strong>Transparentnost je pro tyto stablecoiny naprosto z\u00e1sadn\u00ed<\/strong>. Emitenti mus\u00ed <\/span><b>pr\u016fb\u011b\u017en\u011b prokazovat, \u017ee jejich rezervy skute\u010dn\u011b kryj\u00ed vydan\u00e9 tokeny<\/b><span style=\"font-weight: 400\">, a to prost\u0159ednictv\u00edm <\/span><b>nez\u00e1visl\u00fdch audit\u016f<\/b><span style=\"font-weight: 400\">. Jen tak si mohou udr\u017eet d\u016fv\u011bru u\u017eivatel\u016f i investor\u016f. N\u00ed\u017ee najdete <\/span><b>p\u0159\u00edklad struktury rezerv stablecoinu USDC.<\/b><\/p><figure id=\"attachment_4645\" aria-describedby=\"caption-attachment-4645\" style=\"width: 1140px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-4645 lazyload\" src=\"https:\/\/cimg.co\/p\/no_image.svg\" alt=\"Struktura rezerv USDC\" width=\"1140\" height=\"848\" sizes=\"auto, (max-width: 1140px) 100vw, 1140px\" data-src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05125547\/1762347347-2.jpg\" data-srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05125547\/1762347347-2.jpg 1140w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05125547\/1762347347-2-300x223.jpg 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05125547\/1762347347-2-1024x762.jpg 1024w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05125547\/1762347347-2-768x571.jpg 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05125547\/1762347347-2-450x335.jpg 450w\"><figcaption id=\"caption-attachment-4645\" class=\"wp-caption-text\">Struktura rezerv USDC. Zdroj: <a href=\"https:\/\/www.circle.com\/transparency\">circle<\/a><\/figcaption><\/figure><p><span style=\"font-weight: 400\">Fiatem kryt\u00e9 stablecoiny jsou <\/span><b>nej\u010dast\u011bji vyu\u017e\u00edv\u00e1ny na <a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/nejlepsi-krypto-burza-pro-zacatecniky-a-pokrocile\/\">kryptoburz\u00e1ch<\/a><\/b><span style=\"font-weight: 400\">, proto\u017ee zaru\u010duj\u00ed likviditu a stabilitu.<\/span><\/p><div class=\"su-note\" style=\"border-color:#e0d5e5;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#faefff;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n<p><span style=\"font-weight: 400\"><div class=\"su-row\"><div class=\"su-column su-column-size-1-2\"><div class=\"su-column-inner su-u-clearfix su-u-trim\">\n<p><b>Klady<\/b><\/p>\n<p><span style=\"font-weight: 400\"><div class=\"su-list\" style=\"margin-left:0px\">\n<ul>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">Stabiln\u00ed hodnota v\u00e1zan\u00e1 na re\u00e1lnou m\u011bnu<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">\u0160irok\u00e1 akceptace na burz\u00e1ch a DeFi platform\u00e1ch<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">Snadn\u00e1 sm\u011bna mezi fiat a kryptem<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">Vy\u0161\u0161\u00ed d\u016fv\u011bryhodnost d\u00edky pravideln\u00fdm audit\u016fm a transparentn\u00ed spr\u00e1v\u011b rezerv<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><\/span><\/p><\/div><\/span><\/p><\/div><\/div> <div class=\"su-column su-column-size-1-2\"><div class=\"su-column-inner su-u-clearfix su-u-trim\">\n<p><b>Z\u00e1pory<\/b><\/p>\n<p><span style=\"font-weight: 400\"><div class=\"su-list\" style=\"margin-left:0px\">\n<ul>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <span style=\"font-weight: 400\">Vy\u0161\u0161\u00ed m\u00edra centralizace<\/span><\/li>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <span style=\"font-weight: 400\">Riziko z\u00e1sahu regul\u00e1tor\u016f nebo zmrazen\u00ed prost\u0159edk\u016f<\/span><\/li>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <span style=\"font-weight: 400\">Nutnost d\u016fv\u011bry v emitenta<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><\/span><\/p><\/div><\/span><\/p><\/div><\/div><\/div><\/span><\/p>\n<\/div><\/div><h3><span style=\"font-weight: 400\">Stablecoiny kryt\u00e9 komoditami<\/span><\/h3><p><span style=\"font-weight: 400\">Komoditn\u00ed stablecoiny p\u0159edstavuj\u00ed propojen\u00ed kryptosv\u011bta s re\u00e1lnou ekonomikou. Jejich hodnota je <\/span><b>nav\u00e1zan\u00e1 na fyzick\u00e1 aktiva<\/b><span style=\"font-weight: 400\"> jako <\/span><b>zlato, st\u0159\u00edbro, ropa nebo dokonce diamanty<\/b><span style=\"font-weight: 400\">.<\/span><\/p><p><span style=\"font-weight: 400\">Nap\u0159\u00edklad <\/span><b>PAX Gold (PAXG)<\/b><span style=\"font-weight: 400\"> je token, kter\u00fd p\u0159edstavuje <\/span><b>jednu trojskou unci zlata<\/b><span style=\"font-weight: 400\"><strong> ulo\u017eenou v trezorech certifikovan\u00fdch LBMA v Lond\u00fdn\u011b<\/strong>. Podobn\u011b <\/span><b>Tether Gold (XAUT)<\/b><span style=\"font-weight: 400\"> nab\u00edz\u00ed investor\u016fm mo\u017enost vlastnit zlato v digit\u00e1ln\u00ed form\u011b \u2013 bez pot\u0159eby fyzick\u00e9ho skladov\u00e1n\u00ed.<\/span><\/p><p><span style=\"font-weight: 400\">U t\u011bchto stablecoin\u016f hraje z\u00e1sadn\u00ed roli <\/span><b>bezpe\u010dn\u00e1 spr\u00e1va rezerv<\/b><span style=\"font-weight: 400\">. Emitenti mus\u00ed <\/span><b>prokazovat, \u017ee jejich aktiva jsou skute\u010dn\u011b a bezpe\u010dn\u011b ulo\u017een\u00e1<\/b><span style=\"font-weight: 400\">, nej\u010dast\u011bji formou <\/span><b>pravideln\u00fdch audit\u016f nez\u00e1visl\u00fdmi subjekty<\/b><span style=\"font-weight: 400\">. D\u00edky tomu si udr\u017euj\u00ed <\/span><b>d\u016fv\u011bru u\u017eivatel\u016f<\/b><span style=\"font-weight: 400\"> a zaji\u0161\u0165uj\u00ed, \u017ee token je <\/span><b>pln\u011b kryt re\u00e1ln\u00fdmi aktivy<\/b><span style=\"font-weight: 400\">.<\/span><\/p><p><span style=\"font-weight: 400\">N\u00ed\u017ee je uvedena <\/span><b>m\u011bs\u00ed\u010dn\u00ed zpr\u00e1va PAXG<\/b><span style=\"font-weight: 400\">, kter\u00e1 potvrzuje, \u017ee <\/span><b>ka\u017ed\u00fd token je pln\u011b kryt fyzick\u00fdm zlatem ulo\u017een\u00fdm v rezerv\u00e1ch<\/b><span style=\"font-weight: 400\">.<\/span><\/p><figure id=\"attachment_4647\" aria-describedby=\"caption-attachment-4647\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-4647 lazyload\" src=\"https:\/\/cimg.co\/p\/no_image.svg\" alt=\"M\u011bs\u00ed\u010dn\u00ed zpr\u00e1va PAXG\" width=\"1200\" height=\"964\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" data-src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05130227\/1762347746-1724852832-paxg-proof-of-gold-reserves.webp\" data-srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05130227\/1762347746-1724852832-paxg-proof-of-gold-reserves.webp 1200w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05130227\/1762347746-1724852832-paxg-proof-of-gold-reserves-300x241.webp 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05130227\/1762347746-1724852832-paxg-proof-of-gold-reserves-1024x823.webp 1024w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05130227\/1762347746-1724852832-paxg-proof-of-gold-reserves-768x617.webp 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05130227\/1762347746-1724852832-paxg-proof-of-gold-reserves-450x362.webp 450w\"><figcaption id=\"caption-attachment-4647\" class=\"wp-caption-text\">M\u011bs\u00ed\u010dn\u00ed zpr\u00e1va PAXG o rezerv\u00e1ch. Zdroj: <a href=\"https:\/\/www.paxos.com\/paxg-transparency\">paxg<\/a><\/figcaption><\/figure><p><span style=\"font-weight: 400\">Tento typ stablecoin\u016f je obl\u00edben\u00fd mezi investory, kte\u0159\u00ed cht\u011bj\u00ed <\/span><b>chr\u00e1nit sv\u00e9 bohatstv\u00ed p\u0159ed inflac\u00ed<\/b><span style=\"font-weight: 400\"><strong> nebo geopolitick\u00fdmi riziky, ani\u017e by museli dr\u017eet komodity fyzicky<\/strong>.<\/span><\/p><div class=\"su-note\" style=\"border-color:#e0d5e5;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#faefff;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n<p><span style=\"font-weight: 400\"><div class=\"su-row\"><div class=\"su-column su-column-size-1-2\"><div class=\"su-column-inner su-u-clearfix su-u-trim\">\n<p><b>Klady<\/b><\/p>\n<p><span style=\"font-weight: 400\"><div class=\"su-list\" style=\"margin-left:0px\">\n<ul>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">Podlo\u017een\u00e9 re\u00e1ln\u00fdmi komoditami, nap\u0159\u00edklad zlatem \u010di ropou<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">Slou\u017e\u00ed jako ochrana p\u0159ed inflac\u00ed a tr\u017en\u00edmi v\u00fdkyvy<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">Umo\u017e\u0148uj\u00ed jednoduch\u00fd p\u0159\u00edstup k investic\u00edm do komodit bez nutnosti jejich fyzick\u00e9ho dr\u017een\u00ed<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">Jejich hodnota je stabiln\u00ed, proto\u017ee je p\u0159\u00edmo sv\u00e1z\u00e1na s cenou skute\u010dn\u00fdch aktiv<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><\/span><\/p><\/div><\/span><\/p><\/div><\/div> <div class=\"su-column su-column-size-1-2\"><div class=\"su-column-inner su-u-clearfix su-u-trim\">\n<p><b>Z\u00e1pory<\/b><\/p>\n<p><span style=\"font-weight: 400\"><div class=\"su-list\" style=\"margin-left:0px\">\n<ul>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <span style=\"font-weight: 400\">Nutnost bezpe\u010dn\u00e9ho uskladn\u011bn\u00ed rezerv<\/span><\/li>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <span style=\"font-weight: 400\">Ni\u017e\u0161\u00ed likvidita ve srovn\u00e1n\u00ed s fiatem kryt\u00fdmi stablecoiny<\/span><\/li>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <span style=\"font-weight: 400\">P\u0159\u00edsn\u011bj\u0161\u00ed regulatorn\u00ed r\u00e1mce pro emitenty<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><\/span><\/p><\/div><\/span><\/p><\/div><\/div><\/div><\/span><\/p>\n<\/div><\/div><h3><span style=\"font-weight: 400\">Kryptom\u011bnami kryt\u00fd stablecoin<\/span><\/h3><p><span style=\"font-weight: 400\">Tento typ stablecoinu vyu\u017e\u00edv\u00e1 <\/span><b>jin\u00e9 <a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/druhy-kryptomen\/\">kryptom\u011bny<\/a> jako zaji\u0161t\u011bn\u00ed<\/b><span style=\"font-weight: 400\">. M\u00edsto re\u00e1ln\u00fdch dolar\u016f jsou tokeny kryt\u00e9 nap\u0159\u00edklad <\/span><b>ETH, BTC nebo USDC<\/b><span style=\"font-weight: 400\">. Nejzn\u00e1m\u011bj\u0161\u00edm z\u00e1stupcem je <\/span><b>DAI<\/b><span style=\"font-weight: 400\"> z protokolu <\/span><b>MakerDAO<\/b><span style=\"font-weight: 400\">, kter\u00fd <strong>funguje zcela<\/strong> <\/span><b>decentralizovan\u011b<\/b><span style=\"font-weight: 400\"> bez centr\u00e1ln\u00ed autority. Dr\u017eitel\u00e9 token\u016f mohou \u00fa\u010dastnit \u0159\u00edzen\u00ed protokolu a hlasovat o zm\u011bn\u00e1ch sazeb nebo kolater\u00e1lu.<\/span><\/p><p><span style=\"font-weight: 400\">Aby se vyrovnala volatilita, tyto stablecoiny <\/span><b>\u010dasto pot\u0159ebuj\u00ed p\u0159ekolateralizaci <\/b><span style=\"font-weight: 400\">\u2013 tedy hodnota zaji\u0161t\u011bn\u00ed p\u0159esahuje hodnotu vydan\u00fdch token\u016f. Nap\u0159\u00edklad <\/span><b>k mintingu stablecoin\u016f v hodnot\u011b 100 USD je \u010dasto nutn\u00e9 vlo\u017eit zhruba 150 USD v kryptom\u011bn\u00e1ch<\/b><span style=\"font-weight: 400\">.<\/span><\/p><p><span style=\"font-weight: 400\">Na n\u00ed\u017ee uveden\u00e9m obr\u00e1zku m\u016f\u017eeme vid\u011bt proof of reserves, kter\u00fd ukazuje, \u017ee <strong>pom\u011br kryt\u00ed p\u0159esahuje 100 %, tak\u017ee stablecoin je pln\u011b a bezpe\u010dn\u011b zaji\u0161t\u011bn<\/strong>.<\/span><\/p><figure id=\"attachment_4652\" aria-describedby=\"caption-attachment-4652\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-4652 lazyload\" src=\"https:\/\/cimg.co\/p\/no_image.svg\" alt=\"Rezervy crypto-backed stablecoinu\" width=\"1200\" height=\"966\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" data-src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05132000\/1762348799-1724852876-reserve-ratio-of-crypto-collateralized-stablecoins.webp\" data-srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05132000\/1762348799-1724852876-reserve-ratio-of-crypto-collateralized-stablecoins.webp 1200w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05132000\/1762348799-1724852876-reserve-ratio-of-crypto-collateralized-stablecoins-300x242.webp 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05132000\/1762348799-1724852876-reserve-ratio-of-crypto-collateralized-stablecoins-1024x824.webp 1024w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05132000\/1762348799-1724852876-reserve-ratio-of-crypto-collateralized-stablecoins-768x618.webp 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05132000\/1762348799-1724852876-reserve-ratio-of-crypto-collateralized-stablecoins-450x362.webp 450w\"><figcaption id=\"caption-attachment-4652\" class=\"wp-caption-text\">P\u0159\u00edklad rezerv crypto-backed stablecoinu<\/figcaption><\/figure><p><span style=\"font-weight: 400\">Tento model nab\u00edz\u00ed <\/span><b>v\u011bt\u0161\u00ed nez\u00e1vislost<\/b><span style=\"font-weight: 400\"> a <\/span><b>odolnost v\u016f\u010di cenzu\u0159e<\/b><span style=\"font-weight: 400\">. <\/span><span style=\"font-weight: 400\">O spr\u00e1vu se obvykle staraj\u00ed <strong>decentralizovan\u00e9 organizace<\/strong>, co\u017e sice p\u0159in\u00e1\u0161\u00ed demokrati\u010dt\u011bj\u0161\u00ed rozhodov\u00e1n\u00ed<\/span><span style=\"font-weight: 400\">, ale z\u00e1rove\u0148 <strong>cel\u00fd proces zpomaluj\u00ed<\/strong>.<\/span><\/p><div class=\"su-note\" style=\"border-color:#e0d5e5;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#faefff;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n<p><span style=\"font-weight: 400\"><div class=\"su-row\"><div class=\"su-column su-column-size-1-2\"><div class=\"su-column-inner su-u-clearfix su-u-trim\">\n<p><b>Klady<\/b><\/p>\n<p><span style=\"font-weight: 400\"><div class=\"su-list\" style=\"margin-left:0px\">\n<ul>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">Decentralizovan\u00fd syst\u00e9m bez centr\u00e1ln\u00ed autority<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">Umo\u017e\u0148uj\u00ed zaji\u0161t\u011bn\u00ed pomoc\u00ed r\u016fzn\u00fdch kryptom\u011bn, co\u017e zvy\u0161uje flexibilitu<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">Jsou odoln\u00e9 v\u016f\u010di cenzu\u0159e a blokaci prost\u0159edk\u016f<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">D\u00edky technologii <a href=\"https:\/\/cryptonews.com\/cz\/academy\/co-je-to-blockchain\/\">blockchain<\/a> nav\u00edc nab\u00edzej\u00ed plnou transparentnost a snadno ov\u011b\u0159iteln\u00e9 rezervy<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><\/span><\/p><\/div><\/span><\/p><\/div><\/div> <div class=\"su-column su-column-size-1-2\"><div class=\"su-column-inner su-u-clearfix su-u-trim\">\n<p><b>Z\u00e1pory<\/b><\/p>\n<p><span style=\"font-weight: 400\"><div class=\"su-list\" style=\"margin-left:0px\">\n<ul>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <span style=\"font-weight: 400\">Nutnost nadm\u011brn\u00e9ho zaji\u0161t\u011bn\u00ed<\/span><\/li>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <span style=\"font-weight: 400\">Riziko kolapsu p\u0159i propadu trhu<\/span><\/li>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <span style=\"font-weight: 400\">Rozhodovac\u00ed proces b\u00fdv\u00e1 pomalej\u0161\u00ed, proto\u017ee se na zm\u011bn\u00e1ch mus\u00ed shodnout v\u00edce nez\u00e1visl\u00fdch \u00fa\u010dastn\u00edk\u016f<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><\/span><\/p><\/div><\/span><\/p><\/div><\/div><\/div><\/span><\/p>\n<\/div><\/div><h3><span style=\"font-weight: 400\">Algoritmick\u00fd stablecoin<\/span><\/h3><p><span style=\"font-weight: 400\">Algoritmick\u00e9 stablecoiny se sna\u017e\u00ed <\/span><b>udr\u017eet hodnotu bez jak\u00e9hokoli kryt\u00ed<\/b><span style=\"font-weight: 400\">. Nam\u00edsto rezerv pou\u017e\u00edvaj\u00ed <\/span><b>algoritmy<\/b><span style=\"font-weight: 400\"><strong>, kter\u00e9 automaticky upravuj\u00ed nab\u00eddku token\u016f podle popt\u00e1vky<\/strong>. Pokud cena stoup\u00e1, algoritmus vyd\u00e1 nov\u00e9 tokeny; pokud kles\u00e1, \u010d\u00e1st z nich \u201esp\u00e1l\u00ed\u201c.<\/span><\/p><p><span style=\"font-weight: 400\">Nejzn\u00e1m\u011bj\u0161\u00ed p\u0159\u00edpady jsou <\/span><b>TerraUSD (UST)<\/b><span style=\"font-weight: 400\">, kter\u00fd v\u0161ak v roce 2022 selhal, a tak\u00e9 <\/span><b>Frax (FRAX)<\/b><span style=\"font-weight: 400\">, kter\u00fd kombinuje \u010d\u00e1ste\u010dn\u00e9 kryt\u00ed a algoritmick\u00fd design.<\/span><\/p><p><span style=\"font-weight: 400\">Algoritmick\u00e9 stablecoiny mohou fungovat <\/span><b>centralizovan\u011b<\/b><span style=\"font-weight: 400\">, kdy jejich stabilitu \u0159\u00edd\u00ed <\/span><b>jedna organizace \u010di t\u00fdm<\/b><span style=\"font-weight: 400\">. V <\/span><b>decentralizovan\u00e9m model<\/b><span style=\"font-weight: 400\">u o fungov\u00e1n\u00ed rozhoduj\u00ed <\/span><b>smart kontrakty a komunita<\/b><span style=\"font-weight: 400\">. Decentralizovan\u00fd p\u0159\u00edstup p\u0159in\u00e1\u0161\u00ed <\/span><b>v\u011bt\u0161\u00ed transparentnost a nez\u00e1vislost<\/b><span style=\"font-weight: 400\">, ale z\u00e1rove\u0148 <\/span><b>vy\u0161\u0161\u00ed technickou slo\u017eitost a riziko chyb \u010di nestability<\/b><span style=\"font-weight: 400\">.<\/span><\/p><div class=\"su-note\" style=\"border-color:#e0d5e5;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#faefff;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n<p><span style=\"font-weight: 400\"><div class=\"su-row\"><div class=\"su-column su-column-size-1-2\"><div class=\"su-column-inner su-u-clearfix su-u-trim\">\n<p><b>Klady<\/b><\/p>\n<p><span style=\"font-weight: 400\"><div class=\"su-list\" style=\"margin-left:0px\">\n<ul>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">M\u016f\u017ee fungovat bez zaji\u0161t\u011bn\u00ed a centr\u00e1ln\u00ed kontroly<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">Smart kontrakty automaticky udr\u017euj\u00ed rovnov\u00e1hu nab\u00eddky a popt\u00e1vky<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">Vy\u0161\u0161\u00ed \u0161k\u00e1lovatelnost bez nutnosti rezerv<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <span style=\"font-weight: 400\">Odolnost v\u016f\u010di cenzu\u0159e a z\u00e1sah\u016fm zven\u010d\u00ed<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><\/span><\/p><\/div><\/span><\/p><\/div><\/div> <div class=\"su-column su-column-size-1-2\"><div class=\"su-column-inner su-u-clearfix su-u-trim\">\n<p><b>Z\u00e1pory<\/b><\/p>\n<p><span style=\"font-weight: 400\"><div class=\"su-list\" style=\"margin-left:0px\">\n<ul>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <span style=\"font-weight: 400\">Riziko ztr\u00e1ty stability (nap\u0159. kolaps TerraUSD)<\/span><\/li>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <span style=\"font-weight: 400\">Slo\u017eit\u00fd mechanismus n\u00e1chyln\u00fd k selh\u00e1n\u00ed<\/span><\/li>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <span style=\"font-weight: 400\">Neov\u011b\u0159en\u00e1 dlouhodob\u00e1 spolehlivost<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><\/span><\/p><\/div><\/span><\/p><\/div><\/div><\/div><\/span><\/p>\n<\/div><\/div><h2><span style=\"font-weight: 400\">Jak stablecoin funguje<\/span><\/h2><p><span class=\"replacer\"><\/span><br>\n<span style=\"font-weight: 400\">Abychom pochopili, <\/span><b>co je stablecoin<\/b><span style=\"font-weight: 400\"> a pro\u010d hraje tak d\u016fle\u017eitou roli ve sv\u011bt\u011b kryptom\u011bn<\/span><span style=\"font-weight: 400\">, je pot\u0159eba nejd\u0159\u00edve pochopit, <\/span><b>jak vlastn\u011b funguje<\/b><span style=\"font-weight: 400\">.<\/span><\/p><p><span style=\"font-weight: 400\">Princip je jednoduch\u00fd. Ka\u017ed\u00fd <\/span>stablecoin<span style=\"font-weight: 400\"> je <a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/co-je-token\/\">token<\/a>, kter\u00fd <\/span><b>reprezentuje ekvivalentn\u00ed hodnotu re\u00e1ln\u00e9ho aktiva<\/b><span style=\"font-weight: 400\">. Nap\u0159\u00edklad 1 USDT = 1 USD. Emitent dr\u017e\u00ed rezervy (pen\u00edze, zlato, kryptom\u011bny), kter\u00e9 zaru\u010duj\u00ed, \u017ee dr\u017eitel\u00e9 mohou sv\u00e9 tokeny kdykoli sm\u011bnit.<\/span><\/p><p><b>Algoritmick\u00e9 stablecoiny<\/b><span style=\"font-weight: 400\"> m\u00edsto toho pou\u017e\u00edvaj\u00ed <\/span><b>smart kontrakty<\/b><span style=\"font-weight: 400\">, kter\u00e9 dynamicky \u0159\u00edd\u00ed nab\u00eddku.<\/span><\/p><h2><span style=\"font-weight: 400\">P\u0159\u00edklady nejzn\u00e1m\u011bj\u0161\u00edch stablecoin\u016f<\/span><\/h2><p><span class=\"replacer\"><\/span><br>\n<span style=\"font-weight: 400\">Od vyd\u00e1n\u00ed prvn\u00edho stablecoinu <\/span><b>BitUSD v roce 2014<\/b><span style=\"font-weight: 400\"> vznikla cel\u00e1 \u0159ada nov\u00fdch projekt\u016f. Ka\u017ed\u00fd z nich m\u00e1 sv\u00e9 <\/span><b>specifick\u00e9 vlastnosti, v\u00fdhody i rizika<\/b><span style=\"font-weight: 400\">. N\u00ed\u017ee najdete p\u0159ehled n\u011bkolika nejzn\u00e1m\u011bj\u0161\u00edch stablecoin\u016f \u2013 jejich zaji\u0161t\u011bn\u00ed, fungov\u00e1n\u00ed i vyu\u017eit\u00ed v praxi.<\/span><\/p><h3><span style=\"font-weight: 400\">Tether (USDT)<\/span><\/h3><p><b>USDT<\/b><span style=\"font-weight: 400\"> je <\/span><b>nejpou\u017e\u00edvan\u011bj\u0161\u00ed stablecoin na sv\u011bt\u011b<\/b><span style=\"font-weight: 400\">. Jeho hodnota je podlo\u017eena kombinac\u00ed fiat m\u011bn a dal\u0161\u00edch aktiv, d\u00edky \u010demu\u017e USDT dr\u017e\u00ed svou hodnotu v pom\u011bru 1:1 k americk\u00e9mu dolaru. Vzhledem ke sv\u00e9 stabilit\u011b se hojn\u011b vyu\u017e\u00edv\u00e1 <\/span><b>pro obchodov\u00e1n\u00ed, p\u0159evody i jako uchovatel hodnoty<\/b><span style=\"font-weight: 400\">.<\/span><\/p><div class=\"su-table su-table-alternate\">\n<table>\n<tbody>\n<tr>\n<td><b>Zaji\u0161t\u011bn\u00ed<\/b><\/td>\n<td><span style=\"font-weight: 400\">Hotovostn\u00ed rezervy a finan\u010dn\u00ed aktiva<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>S\u00ed\u0165<\/b><\/td>\n<td><span style=\"font-weight: 400\">Ethereum, Tron, Binance Smart Chain aj.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Mechanismus mintingu a zp\u011btn\u00e9ho odkupu<\/b><\/td>\n<td><span style=\"font-weight: 400\">P\u0159i mintingu je stablecoin kryt fiat m\u011bnou, v\u00fdkup prob\u00edh\u00e1 prost\u0159ednictv\u00edm rezerv<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Vyu\u017eit\u00ed<\/b><\/td>\n<td><span style=\"font-weight: 400\">Obchodov\u00e1n\u00ed, DeFi, remitence, uchov\u00e1n\u00ed hodnoty<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><h3><span style=\"font-weight: 400\">USD Coin (USDC)<\/span><\/h3><p><span style=\"font-weight: 400\">Stablecoin <\/span><b>USDC<\/b><span style=\"font-weight: 400\"> vznikl ve spolupr\u00e1ci firem <\/span><b>Circle<\/b><span style=\"font-weight: 400\"> a <\/span><b>Coinbase<\/b><span style=\"font-weight: 400\">. Stejn\u011b jako USDT je <\/span><b>v\u00e1z\u00e1n 1:1 na dolar<\/b><span style=\"font-weight: 400\">, ale li\u0161\u00ed se d\u016frazem na <\/span><b>transparentnost a pravideln\u00e9 audity<\/b><span style=\"font-weight: 400\">, kter\u00e9 posiluj\u00ed jeho d\u016fv\u011bryhodnost. Je obl\u00edben\u00fd mezi <\/span><b>retailov\u00fdmi i institucion\u00e1ln\u00edmi investory<\/b><span style=\"font-weight: 400\">.<\/span><\/p><div class=\"su-table su-table-alternate\">\n<table>\n<tbody>\n<tr>\n<td><b>Zaji\u0161t\u011bn\u00ed<\/b><\/td>\n<td><span style=\"font-weight: 400\">Hotovostn\u00ed rezervy a finan\u010dn\u00ed aktiva<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>S\u00ed\u0165<\/b><\/td>\n<td><span style=\"font-weight: 400\">Ethereum, Solana, Algorand, Avalanche aj.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Mechanismus mintingu a zp\u011btn\u00e9ho odkupu<\/b><\/td>\n<td><span style=\"font-weight: 400\">P\u0159i mintingu je stablecoin kryt fiat m\u011bnou, v\u00fdkup prob\u00edh\u00e1 prost\u0159ednictv\u00edm rezerv<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Vyu\u017eit\u00ed<\/b><\/td>\n<td><span style=\"font-weight: 400\">DeFi, obchodov\u00e1n\u00ed, remitence, uchov\u00e1n\u00ed hodnoty<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><h3><span style=\"font-weight: 400\">Dai (DAI)<\/span><\/h3><p><span style=\"font-weight: 400\">Stablecoin <\/span><b>Dai<\/b><span style=\"font-weight: 400\">, kter\u00fd spravuje <\/span><b>MakerDAO<\/b><span style=\"font-weight: 400\">, je <\/span><b>zcela decentralizovan\u00fd<\/b><span style=\"font-weight: 400\">. Na rozd\u00edl od USDT \u010di USDC nen\u00ed kryt jedinou m\u011bnou, ale <\/span><b>kombinac\u00ed <\/b><a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/nejlepsi-kryptomeny\/\"><b>kryptom\u011bn<\/b><\/a><span style=\"font-weight: 400\"> (nap\u0159. ETH, USDC). Dr\u017e\u00ed si tak stabilitu bez centr\u00e1ln\u00ed autority, co\u017e z n\u011bj \u010din\u00ed <\/span><b>obl\u00edben\u00fd n\u00e1stroj v DeFi ekosyst\u00e9mu<\/b><span style=\"font-weight: 400\">.<\/span><\/p><div class=\"su-table su-table-alternate\">\n<table>\n<tbody>\n<tr>\n<td><b>Zaji\u0161t\u011bn\u00ed<\/b><\/td>\n<td><span style=\"font-weight: 400\">Over-collateralized stablecoin, tedy token kryt\u00fd v\u011bt\u0161\u00edm mno\u017estv\u00edm z\u00e1stavy, ne\u017e kolik s\u00e1m p\u0159edstavuje<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>S\u00ed\u0165<\/b><\/td>\n<td><span style=\"font-weight: 400\">Ethereum (ERC-20)<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Mechanismus mintingu a zp\u011btn\u00e9ho odkupu<\/b><\/td>\n<td><span style=\"font-weight: 400\">Mintov\u00e1n\u00ed prob\u00edh\u00e1 prost\u0159ednictv\u00edm smart kontrakt\u016f MakerDAO a po splacen\u00ed je token sp\u00e1len<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Vyu\u017eit\u00ed<\/b><\/td>\n<td><span style=\"font-weight: 400\">DeFi, obchodov\u00e1n\u00ed, decentralizovan\u00e9 platby, spo\u0159en\u00ed<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><h3><span style=\"font-weight: 400\">PayPal USD (PYUSD)<\/span><\/h3><p><span style=\"font-weight: 400\">Stablecoin <\/span><b>PYUSD<\/b><span style=\"font-weight: 400\"> vydan\u00fd spole\u010dnost\u00ed <\/span><b>PayPal<\/b><span style=\"font-weight: 400\"> je <\/span><b>pln\u011b kryt\u00fd dolary 1:1<\/b><span style=\"font-weight: 400\"> a umo\u017e\u0148uje <\/span><b>rychl\u00e9 a levn\u00e9 p\u0159evody<\/b><span style=\"font-weight: 400\"> mezi kryptom\u011bnami a fiat m\u011bnami. C\u00edl\u00ed hlavn\u011b na <\/span><b>digit\u00e1ln\u00ed platby a online n\u00e1kupy<\/b><span style=\"font-weight: 400\">.<\/span><\/p><div class=\"su-table su-table-alternate\">\n<table>\n<tbody>\n<tr>\n<td><b>Zaji\u0161t\u011bn\u00ed<\/b><\/td>\n<td><span style=\"font-weight: 400\">Dolarov\u00e9 rezervy<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>S\u00ed\u0165<\/b><\/td>\n<td><span style=\"font-weight: 400\">Ethereum (ERC-20)<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Mechanismus mintingu a zp\u011btn\u00e9ho odkupu<\/b><\/td>\n<td><span style=\"font-weight: 400\">P\u0159i mintingu je stablecoin kryt fiat m\u011bnou, v\u00fdkup prob\u00edh\u00e1 prost\u0159ednictv\u00edm PayPal a Venmo<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Vyu\u017eit\u00ed<\/b><\/td>\n<td><span style=\"font-weight: 400\">Online platby, p\u0159evody, digit\u00e1ln\u00ed transakce<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><h3><span style=\"font-weight: 400\">PAX Gold (PAXG)<\/span><\/h3><p><b>PAX Gold <\/b><span style=\"font-weight: 400\">je <\/span><b>stablecoin kryt\u00fd fyzick\u00fdm zlatem<\/b><span style=\"font-weight: 400\">. Ka\u017ed\u00fd token p\u0159edstavuje <\/span><b>jednu trojskou unci zlata<\/b><span style=\"font-weight: 400\"> ulo\u017eenou v <\/span><b>trezorech schv\u00e1len\u00fdch LBMA<\/b><span style=\"font-weight: 400\">. Umo\u017e\u0148uje investor\u016fm <\/span><b>dr\u017eet zlato v digit\u00e1ln\u00ed podob\u011b<\/b><span style=\"font-weight: 400\"> <strong>bez nutnosti fyzick\u00e9ho vlastnictv\u00ed<\/strong>.<\/span><\/p><div class=\"su-table su-table-alternate\">\n<table>\n<tbody>\n<tr>\n<td><b>Zaji\u0161t\u011bn\u00ed<\/b><\/td>\n<td><span style=\"font-weight: 400\">Fyzick\u00e9 zlato ulo\u017een\u00e9 v trezorech LBMA<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>S\u00ed\u0165<\/b><\/td>\n<td><span style=\"font-weight: 400\">Ethereum (ERC-20)<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Mechanismus mintingu<\/b><\/td>\n<td><span style=\"font-weight: 400\">N\u00e1kup prost\u0159ednictv\u00edm platformy Paxos za zlato nebo fiat m\u011bnu<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Vyu\u017eit\u00ed<\/b><\/td>\n<td><span style=\"font-weight: 400\">Uchov\u00e1n\u00ed hodnoty, zaji\u0161t\u011bn\u00ed proti inflaci, DeFi<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><span style=\"font-weight: 400\">V sou\u010dasnosti koluj\u00ed na trhu <strong>stovky stablecoin\u016f, jejich\u017e celkov\u00e1 tr\u017en\u00ed kapitalizace p\u0159esahuje 300 miliard dolar\u016f.<\/strong> T\u00edm se z nich st\u00e1v\u00e1 jedna z nejvlivn\u011bj\u0161\u00edch sil kryptom\u011bnov\u00e9ho ekosyst\u00e9mu.<\/span><\/p><figure id=\"attachment_4642\" aria-describedby=\"caption-attachment-4642\" style=\"width: 1319px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-4642 lazyload\" src=\"https:\/\/cimg.co\/p\/no_image.svg\" alt=\"Kombinovan\u00e1 tr\u017en\u00ed kapitalizace stablecoin\u016f v roce 2025 p\u0159ekro\u010dila 300 miliard dolar\u016f.\" width=\"1319\" height=\"605\" sizes=\"auto, (max-width: 1319px) 100vw, 1319px\" data-src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05123627\/1762346186-2-spglobal.jpg\" data-srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05123627\/1762346186-2-spglobal.jpg 1319w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05123627\/1762346186-2-spglobal-300x138.jpg 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05123627\/1762346186-2-spglobal-1024x470.jpg 1024w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05123627\/1762346186-2-spglobal-768x352.jpg 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/11\/05123627\/1762346186-2-spglobal-450x206.jpg 450w\"><figcaption id=\"caption-attachment-4642\" class=\"wp-caption-text\">Kombinovan\u00e1 tr\u017en\u00ed kapitalizace stablecoin\u016f v roce 2025 p\u0159ekro\u010dila 300 miliard dolar\u016f. Zdroj: macromicro<\/figcaption><\/figure><h2><span style=\"font-weight: 400\">Regulace stablecoin\u016f<\/span><\/h2><p><span class=\"replacer\"><\/span><br>\n<span style=\"font-weight: 400\">Ot\u00e1zka <\/span>\u201eco je stablecoin\u201c<span style=\"font-weight: 400\"> u\u017e d\u00e1vno nen\u00ed jen technick\u00fdm pojmem ze sv\u011bta krypta. Dnes jde o n\u00e1stroj, kter\u00fd <strong>propojuje sv\u011bt digit\u00e1ln\u00edch m\u011bn s tradi\u010dn\u00ed ekonomikou<\/strong> \u2013 a pr\u00e1v\u011b proto se dost\u00e1v\u00e1 do hled\u00e1\u010dku regula\u010dn\u00edch \u00fa\u0159ad\u016f po cel\u00e9m sv\u011bt\u011b.<\/span><\/p><p><span style=\"font-weight: 400\">Stablecoiny jsou toti\u017e <\/span><b>nav\u00e1z\u00e1ny na hodnotu klasick\u00fdch aktiv<\/b><span style=\"font-weight: 400\">, jako jsou <\/span><b>fiat m\u011bny (nap\u0159. americk\u00fd dolar \u010di euro)<\/b><span style=\"font-weight: 400\"> nebo <strong>komodity typu zlata<\/strong>. D\u00edky tomu si udr\u017euj\u00ed stabiln\u00ed cenu, co\u017e z nich d\u011bl\u00e1 <\/span><b>obl\u00edben\u00fd prost\u0159edek pro platby i uchov\u00e1n\u00ed hodnoty<\/b><span style=\"font-weight: 400\">. Ov\u0161em tato stabilita p\u0159in\u00e1\u0161\u00ed i nov\u00e9 v\u00fdzvy: <\/span><b>jak zajistit, \u017ee stablecoin je skute\u010dn\u011b kryt\u00fd a transparentn\u00ed<\/b><span style=\"font-weight: 400\">?<\/span><\/p><p><span style=\"font-weight: 400\">Regul\u00e1to\u0159i proto sleduj\u00ed jejich v\u00fdvoj s rostouc\u00edm z\u00e1jmem a vytv\u00e1\u0159ej\u00ed r\u00e1mce, kter\u00e9 maj\u00ed <\/span><b>chr\u00e1nit investory, zajistit finan\u010dn\u00ed stabilitu a zabr\u00e1nit zneu\u017eit\u00ed<\/b><span style=\"font-weight: 400\"><strong> t\u011bchto digit\u00e1ln\u00edch aktiv<\/strong>.<\/span><\/p><h3><span style=\"font-weight: 400\">Spojen\u00e9 st\u00e1ty: D\u016fraz na transparentnost a pln\u00e9 kryt\u00ed<\/span><\/h3><p><span style=\"font-weight: 400\">V USA se o stabiln\u00ed a bezpe\u010dn\u00fd rozvoj stablecoin\u016f star\u00e1 <\/span><a href=\"https:\/\/www.congress.gov\/bill\/118th-congress\/senate-bill\/2281\"><b>Responsible Financial Innovation Act<\/b><\/a><span style=\"font-weight: 400\">, kter\u00fd p\u0159edstavuje <\/span><b>celon\u00e1rodn\u00ed r\u00e1mec pro regulaci stablecoin\u016f<\/b><span style=\"font-weight: 400\">. Podle tohoto z\u00e1kona mus\u00ed vydavatel\u00e9 dr\u017eet <\/span><b>likvidn\u00ed aktiva v hodnot\u011b odpov\u00eddaj\u00edc\u00ed 100 % emitovan\u00fdch token\u016f<\/b><span style=\"font-weight: 400\">, co\u017e m\u00e1 zajistit, \u017ee stablecoiny budou <\/span><b>v\u017edy pln\u011b kryt\u00e9<\/b><span style=\"font-weight: 400\">.<\/span><\/p><p><a href=\"https:\/\/www.congress.gov\/bill\/118th-congress\/house-bill\/4766\/text\"><b>Clarity for Payment Stablecoins Act<\/b><\/a><span style=\"font-weight: 400\"> zase p\u0159in\u00e1\u0161\u00ed <strong>jasn\u00e1 <\/strong><\/span><b>pravidla pro vyd\u00e1v\u00e1n\u00ed a dozor<\/b><span style=\"font-weight: 400\"> nad t\u011bmito <\/span><a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/digitalni-mena\/\"><span style=\"font-weight: 400\">digit\u00e1ln\u00edmi m\u011bnami<\/span><\/a><span style=\"font-weight: 400\">. Vymezuje, <\/span><b>kdo m\u016f\u017ee stablecoiny vyd\u00e1vat<\/b><span style=\"font-weight: 400\">, ja<strong>k maj\u00ed b\u00fdt spravov\u00e1ny rezervy a jak\u00fd dohled nad nimi maj\u00ed m\u00edt regula\u010dn\u00ed org\u00e1ny<\/strong>.<\/span><\/p><p><span style=\"font-weight: 400\">Stablecoiny by tak m\u011bly spadat <\/span><b>pod dohled st\u00e1tn\u00edch i feder\u00e1ln\u00edch bankovn\u00edch \u00fa\u0159ad\u016f<\/b><span style=\"font-weight: 400\">, p\u0159i\u010dem\u017e by je mohly emitovat p\u0159edev\u0161\u00edm <\/span><b>depozitn\u00ed instituce<\/b><span style=\"font-weight: 400\">, nikoliv krypto-startupy. D\u00edky tomu by stablecoiny <\/span><b>nebyly klasifikov\u00e1ny jako cenn\u00e9 pap\u00edry nebo komodity<\/b><span style=\"font-weight: 400\">, ale jako <\/span><b>regulovan\u00e9 platebn\u00ed prost\u0159edky<\/b><span style=\"font-weight: 400\">. Z\u00e1kon je prozat\u00edm v procesu schvalov\u00e1n\u00ed, ale mezit\u00edm byl v USA p\u0159ijat jin\u00fd z\u00e1kon:<a href=\"https:\/\/www.eversheds-sutherland.com\/en\/luxembourg\/insights\/the-genius-act-us-law-for-payment-stablecoins\"><strong> GENIUS Act<\/strong><\/a>, kter\u00fd vytvo\u0159il prvn\u00ed feder\u00e1ln\u00ed r\u00e1mec pro tzv. \u201e<strong>payment stablecoins<\/strong>\u201c<\/span><\/p><h3><span style=\"font-weight: 400\">Velk\u00e1 Brit\u00e1nie: Stablecoiny pod dohledem centr\u00e1ln\u00ed banky<\/span><\/h3><p><span style=\"font-weight: 400\">Tak\u00e9 <\/span>Spojen\u00e9 kr\u00e1lovstv\u00ed<span style=\"font-weight: 400\"> podniklo kroky k jasn\u011bj\u0161\u00ed regulaci stablecoin\u016f. Z\u00e1kon<\/span><a href=\"https:\/\/www.legislation.gov.uk\/ukpga\/2023\/29\/contents\"> <b>Financial Services and Markets Act 2023<\/b><\/a><span style=\"font-weight: 400\"> ud\u011blil <\/span><b>ministerstvu financ\u00ed (HM Treasury)<\/b><span style=\"font-weight: 400\"> pravomoc <\/span><b>dohl\u00ed\u017eet na fiat m\u011bnami kryt\u00e1 digit\u00e1ln\u00ed aktiva<\/b><span style=\"font-weight: 400\">, v\u010detn\u011b jejich <strong>pou\u017e\u00edv\u00e1n\u00ed p\u0159i platb\u00e1ch, emise a \u00faschovy<\/strong>.<\/span><\/p><p><span style=\"font-weight: 400\">Podle t\u00e9to legislativy z\u00edskaly stablecoiny status, kter\u00fd je stav\u00ed <\/span><b>na \u00farove\u0148 tradi\u010dn\u00edch platebn\u00edch syst\u00e9m\u016f<\/b><span style=\"font-weight: 400\">. Jejich \u010dinnost nyn\u00ed podl\u00e9h\u00e1 dohledu <\/span><b>Bank of England<\/b><span style=\"font-weight: 400\"> a <\/span><b>Payment Systems Regulator<\/b><span style=\"font-weight: 400\">.<\/span><\/p><p><span style=\"font-weight: 400\">Z\u00e1rove\u0148 <\/span><b>FCA (Financial Conduct Authority)<\/b><span style=\"font-weight: 400\"> navrhl uplatnit na stablecoiny <\/span><b>st\u00e1vaj\u00edc\u00ed regula\u010dn\u00ed standardy<\/b><span style=\"font-weight: 400\">. To by znamenalo, \u017ee jejich emitenti budou muset <\/span><b>udr\u017eovat stabiln\u00ed, likvidn\u00ed a spr\u00e1vn\u011b spravovan\u00e1 aktiva<\/b> <b>k zaji\u0161t\u011bn\u00ed pln\u00e9ho kryt\u00ed token\u016f v ob\u011bhu<\/b><span style=\"font-weight: 400\">.<\/span><\/p><h3><span style=\"font-weight: 400\">Evropsk\u00e1 unie: MiCA p\u0159in\u00e1\u0161\u00ed jasn\u00e1 pravidla pro stablecoiny<\/span><\/h3><p><span style=\"font-weight: 400\">Evropsk\u00e1 unie p\u0159istupuje k ot\u00e1zce co je stablecoin z pohledu <strong>pr\u00e1vn\u00ed jistoty a ochrany u\u017eivatel\u016f<\/strong>. V roce <\/span><b>2024 vstoupila v platnost regulace<\/b><a href=\"https:\/\/www.esma.europa.eu\/esmas-activities\/digital-finance-and-innovation\/markets-crypto-assets-regulation-mica\"><b> MiCA (Markets in Crypto-Assets)<\/b><\/a><span style=\"font-weight: 400\">, kter\u00e1 poprv\u00e9 v historii stanovila <\/span><b>jednotn\u00fd pr\u00e1vn\u00ed r\u00e1mec pro <a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/nove-kryptomeny-s-potencialem\/\">kryptom\u011bny<\/a> a stablecoiny v cel\u00e9 EU<\/b><span style=\"font-weight: 400\">.<\/span><\/p><p><span style=\"font-weight: 400\">Rozli\u0161uje dv\u011b hlavn\u00ed kategorie:<\/span><\/p><ul>\n<li style=\"font-weight: 400\"><b>ARTs (Asset-Referenced Tokens)<\/b><span style=\"font-weight: 400\"> \u2013 tokeny, jejich\u017e hodnota je stabilizov\u00e1na odkazem na <\/span><b><b>jinou hodnotu <\/b><\/b>(komodity)<b><b> nebo pr\u00e1vo <\/b><\/b>(nap\u0159. pr\u00e1vo na pod\u00edl z ur\u010dit\u00e9ho fondu nebo portfolia aktiv)<span style=\"font-weight: 400\">, \u010di na <\/span><b>kombinaci aktiv nebo m\u011bn<\/b><span style=\"font-weight: 400\">.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>EMTs (E-Money Tokens)<\/b><span style=\"font-weight: 400\"> \u2013 tokeny, jejich\u017e hodnota je stabilizov\u00e1na odkazem <\/span><b>na jednu ofici\u00e1ln\u00ed m\u011bnu<\/b><span style=\"font-weight: 400\"> (fiat), a jsou prim\u00e1rn\u011b ur\u010deny ke sm\u011bn\u011b nebo platb\u00e1m.<\/span><\/li>\n<\/ul><p><span style=\"font-weight: 400\">Emitenti mus\u00ed dr\u017eet <\/span><b>100 % rezerv<\/b><span style=\"font-weight: 400\">, <\/span><b>pravideln\u011b je auditovat a chr\u00e1nit u\u017eivatele p\u0159ed ztr\u00e1tou likvidity.<\/b><span style=\"font-weight: 400\"> C\u00edlem MiCA je zajistit <\/span><b>stabilitu trhu a ochranu investor\u016f<\/b><span style=\"font-weight: 400\">, ale i umo\u017enit <\/span><b>evropsk\u00fdm bank\u00e1m a fintech spole\u010dnostem<\/b><span style=\"font-weight: 400\"> bezpe\u010dn\u011b emitovat vlastn\u00ed stablecoiny.<\/span><\/p><h2><span style=\"font-weight: 400\">Klady a z\u00e1pory stablecoin\u016f<\/span><\/h2><p><span class=\"replacer\"><\/span><br>\n<span style=\"font-weight: 400\">Mnoho investor\u016f, kte\u0159\u00ed zkoumaj\u00ed <\/span>co je stablecoin<span style=\"font-weight: 400\">, brzy zjist\u00ed, \u017ee jde o <strong>zaj\u00edmav\u00fd zp\u016fsob, jak propojit sv\u011bt <\/strong><\/span><strong><a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/nove-kryptomeny-s-potencialem\/\">kryptom\u011bn<\/a><\/strong><span style=\"font-weight: 400\"><strong> se stabilitou tradi\u010dn\u00edch financ\u00ed<\/strong>. P\u0159esto ale plat\u00ed, \u017ee i kdy\u017e jsou stablecoiny pova\u017eov\u00e1ny za \u201eklidn\u00e9 p\u0159\u00edstavy\u201c kryptotrhu, <\/span><b>nejsou zcela bez rizika<\/b><span style=\"font-weight: 400\">. Ka\u017ed\u00fd investor by m\u011bl rozum\u011bt tomu, <\/span><span style=\"font-weight: 400\"> <strong>jak\u00e9 faktory mohou ovlivnit jeho stabilitu<\/strong>.<\/span><\/p><p><span style=\"font-weight: 400\">V t\u00e9to \u010d\u00e1sti se pod\u00edv\u00e1me na <\/span><b>hlavn\u00ed v\u00fdhody a nev\u00fdhody stablecoin\u016f<\/b><span style=\"font-weight: 400\">, abyste dok\u00e1zali l\u00e9pe zhodnotit, zda jsou pro v\u00e1s skute\u010dn\u011b vhodnou volbou.<\/span><\/p><div class=\"su-note\" style=\"border-color:#e0d5e5;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#faefff;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n<p><span style=\"font-weight: 400\"><div class=\"su-row\"><div class=\"su-column su-column-size-1-2\"><div class=\"su-column-inner su-u-clearfix su-u-trim\">\n<p><b>Klady<\/b><\/p>\n<p><span style=\"font-weight: 400\"><div class=\"su-list\" style=\"margin-left:0px\">\n<ul>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <b>Ni\u017e\u0161\u00ed volatilita:<\/b><span style=\"font-weight: 400\"> Hlavn\u00ed v\u00fdhodou stablecoin\u016f je jejich schopnost udr\u017eet stabiln\u00ed hodnotu. Slou\u017e\u00ed tak jako bezpe\u010dn\u00e9 \u00fato\u010di\u0161t\u011b pro investory, kte\u0159\u00ed se cht\u011bj\u00ed vyhnout prudk\u00fdm cenov\u00fdm v\u00fdkyv\u016fm typick\u00fdm pro jin\u00e9 kryptom\u011bny.<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <b>Jednoduch\u00e9 pou\u017e\u00edv\u00e1n\u00ed:<\/b><span style=\"font-weight: 400\"> Stablecoiny umo\u017e\u0148uj\u00ed rychl\u00e9 a bezprobl\u00e9mov\u00e9 platby \u010di p\u0159evody, podobn\u011b jako klasick\u00e9 pen\u00edze. D\u00edky tomu jsou praktick\u00e9 pro ka\u017edodenn\u00ed transakce i mezin\u00e1rodn\u00ed p\u0159evody.<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <b>Vysok\u00e1 likvidita:<\/b><span style=\"font-weight: 400\"> D\u00edky sv\u00e9 popularit\u011b a \u0161irok\u00e9mu vyu\u017eit\u00ed nab\u00edzej\u00ed okam\u017eit\u00fd p\u0159\u00edstup k prost\u0159edk\u016fm bez v\u00fdrazn\u00fdch zm\u011bn ceny. To z nich d\u011bl\u00e1 ide\u00e1ln\u00ed n\u00e1stroj pro obchodn\u00edky i investory, kte\u0159\u00ed pot\u0159ebuj\u00ed rychle reagovat.<\/span><\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#77e31f\"><\/i> <b>\u0160irok\u00e1 kompatibilita:<\/b><span style=\"font-weight: 400\"> Stablecoiny jsou akceptov\u00e1ny nap\u0159\u00ed\u010d mnoha kryptom\u011bnov\u00fdmi platformami, <\/span><a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/nejlepsi-krypto-burza-bez-kyc\/\"><span style=\"font-weight: 400\">burzami<\/span><\/a><span style=\"font-weight: 400\"> a DeFi aplikacemi, co\u017e usnad\u0148uje jejich integraci do r\u016fzn\u00fdch finan\u010dn\u00edch ekosyst\u00e9m\u016f.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><\/span><\/p><\/div><\/span><\/p><\/div><\/div> <div class=\"su-column su-column-size-1-2\"><div class=\"su-column-inner su-u-clearfix su-u-trim\">\n<p><b>Z\u00e1pory<\/b><\/p>\n<p><span style=\"font-weight: 400\"><div class=\"su-list\" style=\"margin-left:0px\">\n<ul>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <b>Ni\u017e\u0161\u00ed v\u00fdnosov\u00fd potenci\u00e1l:<\/b><span style=\"font-weight: 400\"> V\u00fdnosy ze stablecoin\u016f b\u00fdvaj\u00ed mnohem men\u0161\u00ed ne\u017e u rizikov\u011bj\u0161\u00edch aktiv. Slou\u017e\u00ed sp\u00ed\u0161e k ochran\u011b hodnoty ne\u017e k agresivn\u00edmu zhodnocen\u00ed kapit\u00e1lu.<\/span><\/li>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <b>Regula\u010dn\u00ed nejistota:<\/b><span style=\"font-weight: 400\"> Proto\u017ee se stablecoiny st\u00e1vaj\u00ed st\u00e1le d\u016fle\u017eit\u011bj\u0161\u00ed sou\u010d\u00e1st\u00ed finan\u010dn\u00edho syst\u00e9mu, rostouc\u00ed dohled regula\u010dn\u00edch org\u00e1n\u016f m\u016f\u017ee ovlivnit jejich pou\u017e\u00edv\u00e1n\u00ed a dostupnost.<\/span><\/li>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <b>Centralizace a d\u016fv\u011bra:<\/b><span style=\"font-weight: 400\"> Stablecoiny kryt\u00e9 fiat m\u011bnami jsou z\u00e1visl\u00e9 na centr\u00e1ln\u00edch instituc\u00edch, kter\u00e9 spravuj\u00ed jejich rezervy.<\/span><\/li>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <b>Vy\u0161\u0161\u00ed provozn\u00ed n\u00e1klady:<\/b><span style=\"font-weight: 400\"> Kryptem zaji\u0161t\u011bn\u00e9 stablecoiny vy\u017eaduj\u00ed nadm\u011brn\u00e9 kolater\u00e1ly (\u010dasto v\u00edce ne\u017e 100 % hodnoty).<\/span><b><\/b><\/li>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <b>Rizika algoritmick\u00fdch model\u016f:<\/b><span style=\"font-weight: 400\"> V p\u0159\u00edpad\u011b prudk\u00fdch v\u00fdkyv\u016f se mohou pot\u00fdkat s probl\u00e9my p\u0159i udr\u017een\u00ed sv\u00e9 hodnoty, co\u017e vede ke ztr\u00e1t\u011b stability.<\/span><\/li>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <b>Nedostate\u010dn\u00e1 transparentnost:<\/b><span style=\"font-weight: 400\"> Ne v\u0161echny projekty otev\u0159en\u011b zve\u0159ej\u0148uj\u00ed, \u010d\u00edm jsou jejich tokeny kryt\u00e9 a jak spravuj\u00ed rezervy. Nedostatek jasn\u00fdch informac\u00ed m\u016f\u017ee podkopat d\u016fv\u011bru investor\u016f.<\/span><\/li>\n<li><i class=\"sui sui-remove\" style=\"color:#e31f28\"><\/i> <b>Bezpe\u010dnostn\u00ed hrozby:<\/b><span style=\"font-weight: 400\"> Stejn\u011b jako jin\u00e1 digit\u00e1ln\u00ed aktiva jsou i stablecoiny n\u00e1chyln\u00e9 k hackersk\u00fdm \u00fatok\u016fm, \u00fanik\u016fm dat a technick\u00fdm chyb\u00e1m, kter\u00e9 mohou ohrozit ulo\u017een\u00e9 prost\u0159edky u\u017eivatel\u016f.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><\/span><\/p><\/div><\/span><\/p><\/div><\/div><\/div><\/span><\/p>\n<\/div><\/div><h2><span style=\"font-weight: 400\">Z\u00e1v\u011br: Co je stablecoin a pro\u010d m\u016f\u017ee zm\u011bnit sv\u011bt financ\u00ed<\/span><\/h2><p><span class=\"replacer\"><\/span><br>\n<span style=\"font-weight: 400\">Kdy\u017e se pod\u00edv\u00e1me na to, co je stablecoin, je jasn\u00e9, \u017ee u\u017e d\u00e1vno nejde jen o dopln\u011bk kryptom\u011bnov\u00e9ho trhu. Stablecoiny se staly <\/span><b>mostem mezi sv\u011btem tradi\u010dn\u00edch pen\u011bz a digit\u00e1ln\u00edch aktiv<\/b><span style=\"font-weight: 400\">, <\/span><b>propojuj\u00ed stabilitu klasick\u00fdch m\u011bn s flexibilitou blockchainu a otev\u00edraj\u00ed dve\u0159e nov\u00e9mu finan\u010dn\u00edmu ekosyst\u00e9mu<\/b><span style=\"font-weight: 400\">.<\/span><\/p><p><span style=\"font-weight: 400\">D\u00edky <\/span><b>stabiln\u00ed hodnot\u011b, vysok\u00e9 likvidit\u011b a rychlosti transakc\u00ed<\/b><span style=\"font-weight: 400\"> se z nich st\u00e1v\u00e1 <\/span><b>nepostradateln\u00fd n\u00e1stroj pro obchodn\u00edky<\/b><span style=\"font-weight: 400\">. Z\u00e1rove\u0148 p\u0159ich\u00e1z\u00ed \u00e9ra <\/span>regulac\u00ed, jako je MiCA stablecoin<span style=\"font-weight: 400\">, kter\u00e9 do sektoru vn\u00e1\u0161ej\u00ed <\/span><b>v\u011bt\u0161\u00ed jistotu, transparentnost a odpov\u011bdnost<\/b><span style=\"font-weight: 400\">. Tyto kroky mohou pos\u00edlit d\u016fv\u011bru investor\u016f a pomoci stablecoin\u016fm st\u00e1t se skute\u010dnou p\u00e1te\u0159\u00ed digit\u00e1ln\u00ed ekonomiky.<\/span><\/p><p><span style=\"font-weight: 400\">Pokud se bude v\u00fdvoj ub\u00edrat t\u00edmto sm\u011brem, mohou se stablecoiny st\u00e1t <\/span><b>digit\u00e1ln\u00edmi m\u011bnami budoucnosti<\/b><span style=\"font-weight: 400\"> \u2013 rychl\u00fdmi, bezpe\u010dn\u00fdmi a pln\u011b integrovan\u00fdmi do <\/span><b>glob\u00e1ln\u00edho finan\u010dn\u00edho syst\u00e9mu<\/b><span style=\"font-weight: 400\">.<\/span><\/p><h2><span style=\"font-weight: 400\">FAQ<\/span><\/h2><p><span class=\"replacer\"><\/span><br>\n<\/p><div class=\"man_faq_sec\" itemscope itemtype=\"https:\/\/schema.org\/FAQPage\">\r\n<!--                            <script>jQuery(document).ready(function() {\r\n\t\t\t\t\t\t\t\tjQuery(\".accordionButton\").click(function() {\r\n\t\t\t\t\t\t\t\t\tjQuery(\".accordionButton\").removeClass(\"on\");\r\n\t\t\t\t\t\t\t\t\tjQuery(\".accordionContent\").slideUp(\"normal\");\r\n\t\t\t\t\t\t\t\t\tif(jQuery(this).next().is(\":hidden\") == true) {\r\n\t\t\t\t\t\t\t\t\t\tjQuery(this).addClass(\"on\");\r\n\t\t\t\t\t\t\t\t\t\tjQuery(this).next().slideDown(\"normal\");\r\n\t\t\t\t\t\t\t\t\t } \r\n\t\t\t\t\t\t\t\t\t  \r\n\t\t\t\t\t\t\t\t });\r\n\t\t\t\t\t\t\t\t });\r\n\t\t\t\t\t\t\t<\/script>-->\r\n\t\t\t\t\t\t\t<section class=\"ms_faq ms_card \"><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\"><span style=\"font-weight: 400\">Co je stablecoin a pro\u010d je jin\u00fd ne\u017e b\u011b\u017en\u00e9 kryptom\u011bny?<\/span><\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\"><span style=\"font-weight: 400\">Stablecoin je digit\u00e1ln\u00ed m\u011bna nav\u00e1zan\u00e1 na stabiln\u00ed aktivum, nej\u010dast\u011bji americk\u00fd dolar nebo zlato. Jeho c\u00edlem je eliminovat cenov\u00e9 v\u00fdkyvy typick\u00e9 pro <\/span><a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/jak-ziskat-bitcoin-zdarma\/\"><span style=\"font-weight: 400\">bitcoin<\/span><\/a><span style=\"font-weight: 400\"> \u010di <a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/co-je-kryptomena-ethereum\/\">ethereum<\/a>. Hodnota je udr\u017eov\u00e1na prost\u0159ednictv\u00edm rezerv v re\u00e1ln\u00fdch aktivech (nap\u0159. pen\u00edze, dluhopisy zlato, kryptom\u011bny) nebo algoritm\u016f, kter\u00e9 automaticky reguluj\u00ed nab\u00eddku token\u016f.<\/span><\/p>\r\n                <\/div><\/div><\/section>\n<section class=\"ms_faq ms_card \"><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\">Jak\u00e9 druhy stablecoin\u016f existuj\u00ed a \u010d\u00edm se li\u0161\u00ed?<\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\"><span style=\"font-weight: 400\">Rozli\u0161ujeme \u010dty\u0159i hlavn\u00ed kategorie:<\/span><\/p>\n<ul>\n<li><b>Kryt\u00e9 fiat m\u011bnami<\/b><span style=\"font-weight: 400\">\u2013 podlo\u017een\u00e9 hotovost\u00ed nebo dluhopisy (nap\u0159. USDT, USDC).<\/span><\/li>\n<li><b>Kryt\u00e9 kryptom\u011bnami<\/b><span style=\"font-weight: 400\"> \u2013 zaji\u0161t\u011bn\u00e9 jin\u00fdmi kryptom\u011bnami (nap\u0159. DAI).<\/span><\/li>\n<li><b>Komoditn\u00ed<\/b><span style=\"font-weight: 400\"> \u2013 nav\u00e1zan\u00e9 na zlato, ropu \u010di jin\u00e9 fyzick\u00e9 komodity (nap\u0159. PAXG).<\/span><\/li>\n<li><b>Algoritmick\u00e9<\/b><span style=\"font-weight: 400\"> \u2013 stabilitu \u0159\u00edd\u00ed smart kontrakty bez rezerv nebo vyu\u017e\u00edvaj\u00ed model \u010d\u00e1ste\u010dn\u00fdch rezerv (nap\u0159. Frax).<\/span>\r\n                <\/li><\/ul><\/div><\/div><\/section>\n\n<section class=\"ms_faq ms_card \"><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\"><span style=\"font-weight: 400\">Jsou stablecoiny bezpe\u010dn\u00e9 a regulovan\u00e9?<\/span><\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\"><span style=\"font-weight: 400\">Bezpe\u010dnost z\u00e1vis\u00ed na typu a d\u016fv\u011bryhodnosti emitenta. Fiatem kryt\u00e9 stablecoiny b\u00fdvaj\u00ed pod dohledem regul\u00e1tor\u016f a maj\u00ed pravideln\u00e9 audity rezerv, zat\u00edmco algoritmick\u00e9 modely jsou rizikov\u011bj\u0161\u00ed. V EU se na stablecoiny vztahuje regulace MiCA (Markets in Crypto-Assets), kter\u00e1 vy\u017eaduje pln\u00e9 kryt\u00ed a transparentnost. V USA \u2013 p\u0159ipravuj\u00ed feder\u00e1ln\u00ed r\u00e1mec (Responsible Financial Innovation Act, Clarity for Payment Stablecoins Act), kter\u00fd vy\u017eaduje 100% kryt\u00ed a pravideln\u00e9 audity rezerv. V UK spadaj\u00ed stablecoiny pod dohled Bank of England a Payment Systems Regulator. C\u00edlem je zajistit, \u017ee fiatem kryt\u00e9 tokeny budou spravov\u00e1ny podobn\u011b jako tradi\u010dn\u00ed platebn\u00ed syst\u00e9my<\/span>.<\/p>\r\n                <\/div><\/div><\/section>\n<section class=\"ms_faq ms_card \"><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\"><span style=\"font-weight: 400\">K \u010demu se stablecoiny nej\u010dast\u011bji pou\u017e\u00edvaj\u00ed?<\/span><\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\"><span style=\"font-weight: 400\">Stablecoiny jsou dnes z\u00e1kladem krypto-ekonomiky. Pou\u017e\u00edvaj\u00ed se pro:<\/span><\/p>\n<ul>\n<li>Rychl\u00e9 a levn\u00e9 p\u0159evody<span style=\"font-weight: 400\"> mezi kryptem a fiat m\u011bnami,<\/span><\/li>\n<li>Obchodov\u00e1n\u00ed a zaji\u0161t\u011bn\u00ed<span style=\"font-weight: 400\"> proti volatilit\u011b,<\/span><\/li>\n<li>DeFi aplikace<span style=\"font-weight: 400\">, p\u016fj\u010dky a v\u00fdnosov\u00e9 strategie,<\/span><\/li>\n<li>Mezin\u00e1rodn\u00ed platby<span style=\"font-weight: 400\"> a p\u0159eshrani\u010dn\u00ed p\u0159evody.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">D\u00edky regulac\u00edm a rostouc\u00ed d\u016fv\u011b\u0159e se stablecoiny st\u00e1vaj\u00ed mostem mezi tradi\u010dn\u00edm finan\u010dn\u00edm sv\u011btem a <\/span><a href=\"https:\/\/cryptonews.com\/cz\/academy\/co-je-to-blockchain\/\"><span style=\"font-weight: 400\">blockchainem<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\r\n                <\/div><\/div><\/section>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Co je stablecoin? Jednodu\u0161e \u0159e\u010deno, jde o kryptom\u011bnu s pevnou hodnotou, kter\u00e1 se sna\u017e\u00ed udr\u017eet kurz stabiln\u00ed \u2013 nej\u010dast\u011bji v\u016f\u010di americk\u00e9mu dolaru, euru nebo jin\u00e9 m\u011bn\u011b. Na rozd\u00edl od klasick\u00fdch kryptom\u011bn, jako je bitcoin nebo ethereum, jejich cena nekol\u00eds\u00e1, co\u017e z nich d\u011bl\u00e1 obl\u00edben\u00fd n\u00e1stroj pro platby, p\u0159evody pen\u011bz i uchov\u00e1n\u00ed hodnoty.Dnes u\u017e ale existuj\u00ed [&hellip;]<\/p>\n","protected":false},"author":638,"featured_media":3299,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"topics":[433],"class_list":["post-4390","academy","type-academy","status-publish","has-post-thumbnail","hentry","topics-kryptomeny","experience-zacatecnik"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Co je stablecoin a jak funguje? Kompletn\u00ed pr\u016fvodce - Cryptonews CZ<\/title>\n<meta name=\"description\" content=\"Co je stablecoin a pro\u010d o n\u011bm v\u0161ichni mluv\u00ed? 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