STABLE COINS GROWTH
Stable coin Marketcap tops $50 billion
Pegged to a reserve asset such as the US dollar, gold, or other fiat currency, usage of these digital coins has grown exponentially
Stable coins are uniquely positioned in the transitioning financial ecosystem to act as a bridge between the traditional fiat currencies and the incoming decentralized Cryptos. They feature the stable value that the current financial institutions and the central banks seek while featuring stronger autonomy, privacy & interoperability qualities — which are the hallmark of mainstream cryptocurrencies.
Although the mainstream cryptos have a long wall of regulatory hurdles to climb before they can truly be integrated with the legacy financial system, Stable coins emanating from public blockchains are uniquely positioned to benefit from the world’s international transactions — 55% of which is conducted in the US dollar. In addition to this, the offshore dollar market (dollar deposits held outside the US) could alone be over $57 trillion dollars, according to the Bank of International Settlements.
Running on global public infrastructure with 24/7/365 access makes these stable coins incredibly enticing in an increasingly digitized world. Their consistent growth…
