Crypto Biz: Stablecoins are paving the way for mass adoption of crypto, June 2–8
Checkout.com, FTX, PayPal and Crypto.com headline the latest business news from the world of cryptocurrency and blockchain. Stablecoins are a controversial subject in crypto. Questioning the legitimacy and backing of Tether (USDT) is a right of passage for many entering the crypto market for the first time. The meltdown of the Terra (LUNC; or the old LUNA) ecosystem left little doubt that algorithmic stablecoins don’t have a future beyond Do Kwon’s fantasies. Pesky regulators are constantly poking and prodding at dollar-pegged assets to carve out firmer rules on their usage. But, if you....
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In the last year, stablecoins have gone from representing just a tiny fraction of global cryptocurrency trading volume to more than half of it. This, because more users than ever before now use stablecoins to exit volatility, invest, and make payments. But in order for stablecoins to truly achieve mass adoption, they need to appeal […]
Hodling is nice, but eventually, everyone wants to buy something. This is why crypto debit and credit cards are key to mass adoption. Out of the many routes available to the mass adoption of cryptocurrencies, which includes decentralized finance (DeFi), layer-one protocols, nonfungible tokens and stablecoins, perhaps the simplest and most applicable path for the public at large is the ability to utilize cryptocurrency for everyday purchases with an integrated debit or credit card.2021 has seen a growing number of companies offer cryptocurrency-based credit cards that give holders the....
Demand for stablecoins continues to rise as businesses look to on-chain liquidity to improve their operations. USD Coin (USDC) issuer Circle Internet Financial is launching a fully-reserved stablecoin pegged to the euro, signaling to the market that demand for crypto foreign exchange services remains high despite recent industry turmoil. Euro Coin, or EUROC, will be available for trading on June 30, Circle said Thursday in a statement that was shared with Cointelegraph. Like USDC, Euro Coin is a regulated stablecoin that is fully backed by reserves — in this case, the euro. That means....
Even though many people see cryptocurrencies as speculative vehicles, the concept was created for an entirely different purpose. Unlike TradFi, crypto wants to achieve mass adoption and establish financial inclusion. Moreover, it still has the potential to become a more stable and sustainable form of finance, although there are some bumps along the road. The […]
Crypto mass adoption means that it’s time to think about the wider market who will be interested in many of the lower-risk, lower-reward types of DeFi services. Easy-to-adopt, as well as customized solutions, are necessary so as not to alienate potential users. In the world of stablecoins and especially fiat-pegged stablecoins in particular, the US […]