Kai Sheffield (Cuy Sheffield) believes that in the medium term, all major global national currencies will be represented by coins on the blockchain. According to him, more and more stable coins are now being released, trying to distance themselves from USDT or USDC:
“Dollars are great for cross-border transactions, but the market needs to be able to convert them quickly and efficiently. Other stablecoins can play a big role in this.”
Stablecoins are capable of becoming an internal means of payment that will link cross-border and local payment systems, thanks to which the digital market can move into a new phase of expansion, the top manager of Visa is confident:
“People are increasingly using stablecoins. They know what a stablecoin is, and there is some direct-to-consumer branding. But there are many other use cases where the brand doesn’t matter, and they need to be fully represented in the economy.”
2024 was a turning point for stablecoins, when non-cryptocurrency companies were able to solve the problems with payments for freelancers engaged in joint projects in countries where digital assets are prohibited by law, the expert emphasized.
Earlier, CoinDesk, citing sources at Revolut, reported that the company intends to expand its offering of digital assets and issue its own stablecoin.
Source: Bits
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