What Does the Future for Stablecoins Look Like?
Ollie Hurst – Crypto Consultant
Stablecoins are on the rise with many wondering what's in store for such cryptographic money. It has been reported that the number of businesses that make or test a recognized stablecoin is also on the rise. One strong factor drawing the attention of businesses is the utility in using a stablecoin.
For traders and financial experts, stablecoins solve a problem that occurs with many major exchanges. Their relationship with banks is not always ideal resulting in speculators unable to use US Dollars, Euros, or other fiat currency. This makes a crypto market investment seem less lucrative or accessible for the masses.
Facebook, one of the largest tech companies, is building a stablecoin named Libra with the idea of providing cheap and fast international money transfer services. In doing so, Facebook will be creating a new global payments pathway for its 2.41bn customer base.
While Facebook has created some commotion with their news, they are not the only big brand interested in blockchain technology as Walmart is also interested in introducing its own stablecoin. This will be tied to a regular currency as with many others stablecoins but could also provide finance for those with less than sufficient access to banking services.
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