Governor of Bank of England, Andrew Bailey, wrote a letter to G20 yesterday that Financial Stability Board (Fsb) – The forum’s financial supervisor, whom Bailey was appointed to go in April – estimates Stableecoin’s role in payments and settlements as a highest priority.
To that point: An analyst at Standard Chartered says when stableecoins, when stableecoins hit $ 750 billion, they can begin to influence the structure of US Treasury Markets. (Their market capital is currently about $ 258 billion according to Defillama.)
We have also left, which allows USDC holders to earn 4% yield, a crypto start -up called Dakota, raising $ 12.5 million to make it easier for businesses to move funds from US dollars to stablecoins and back again.
These four headlines are all from today and they are nothing unusual. We are used to seeing an abundance of news every day about stableecoin resolution. “StableCoins are Cryptos Killer App” has become a motto almost akin to “Stay humble, stack rate.”
The under -displaced winners of stableecoin growth are market manufacturers – the clothing that provides liquidity to crypto markets and ensures that trades are performed effectively. Kevin de Patoul, CEO of global investment company Keyrock, recently told Coindesk that demand for Bitcoin and StableCoins exceeded the demand for any other type of cryptocurrencies with a wide margin.
Even more interesting, the demand for stableecoins is increasingly coming from companies that are not crypto -native but consider stablecoins a truly superior technology for international payments.
“It has really been a change in the last year and a half as they see the assets used for their overall efficiency, rather than just a way to get exposure to crypto,” he said.
Stableecoins show the way for tokenization of shares, money market funds and other foreign types of financial products. De Patoul expects the backend of the financial system to be completely updated to improve user access to these vehicles.
While tokenization is a bit of a newer and shiny concept for crypto-native-lit more like bleeding Edge Tech-will stableecoins, with their “thoughtful” potential, probably remain the bigger story in the coming years, they said Patoul.
“In the end, 50% of the global payments are made in stableecoins,” he said. “Stableecoins will continue to be the biggest use of use for digital assets in the next few years.”
