Nick Van Ex, CEO of Agora, has observed a growing use of stablecoins among consumers and predicts that these cryptocurrencies will extend beyond digital markets to play a significant role in international business payments. He emphasized that stablecoins, particularly in the realm of cross-border payments, could increasingly serve as alternatives to traditional financial systems. Stablecoins are digital currencies pegged to stable assets such as the US dollar, euro, or gold, minimizing price volatility. This characteristic makes them ideal for fast and low-cost transactions in global commerce. The rising adoption of stablecoins is driven largely by the complexities and high fees associated with conventional banking systems.
Agora, a leading financial technology company focused on simplifying payment systems through digital currency and blockchain, anticipates that major corporations will soon prefer stablecoins for their international transactions due to their speed, transparency, and cost efficiency. Van Ex also indicated that this shift would enhance global financial inclusion and broaden the scope of financial services. Looking ahead, increased use of stablecoins is likely to attract greater regulatory attention to ensure their safe and compliant usage. Nevertheless, the growing popularity of this technology is expected to revolutionize the global financial system, making trade more efficient and seamless.
Source: coindesk
