When the crypto market dropped 💱, people didn't exit their money from crypto but instead converted it into stablecoins. This indicates that people have gained trust in stablecoins.
Stablecoins have seen a 50% increase in market value and a 50% increase in user wallets this year 📈.
The reason is that doing cross-border transactions with the banking system tends to be slow, less active, and costly. With stablecoins, transactions can be instant and very convenient ⚡💸.
This is why companies and banks are also starting to use stablecoins to manage their finances 24/7 🕒🌐.
In the future, it is believed that large platforms like Amazon could issue their own stablecoin 🛒💰.
Just one example—MGX used USD1 stablecoin for investments in Binance 💵🤝.
This shows that digital currencies can enable larger businesses to operate faster and more efficiently.
For some regulators, it is still new and requires understanding 📚👀.
To summarize ➜
Trust in stablecoins is increasing, larger organizations are using them more, and government approvals are becoming more common across various regions ✔️🌍.
Speakers believe that stablecoins are an important technology for going beyond just crypto 🚀.
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