For countries where the currency is unstable, stable currency is a way to protect one’s savings.
Where I’m from, historically you’d save in USD. But in the last few years, the market has imposed dumb obstacles, like the paper notes being completely unblemished (something that isn’t even a thing in the US, as far as I’m aware). That’s where stablecoins have been useful for the locals.
Edit: This is an explanation, not an endorsement of crypto.
“Fast” international money transfer without value fluctuations. AFAIK, it’s used to send money back overseas without fees and for online casinos. Most stablecoins are based on the USD, which has been dropping due to the actions of a certain person. It seems like a reasonable decision to create an “official” euro stablecoin. The EU has been pushing for an EU payment processor to avoid reliance on US based / connected payment countries, this seems like it might be related to that.
Money transfers, online payments for whatever, place to park your assets in volatile times in the market, integration into other on-chain investment systems, etc…
What is the use case of stable coins? Fast international money transfer? Or are there other I’m not aware of
For countries where the currency is unstable, stable currency is a way to protect one’s savings.
Where I’m from, historically you’d save in USD. But in the last few years, the market has imposed dumb obstacles, like the paper notes being completely unblemished (something that isn’t even a thing in the US, as far as I’m aware). That’s where stablecoins have been useful for the locals.
Edit: This is an explanation, not an endorsement of crypto.
money laundering
Hey, don’t forget legalized forgery.
“Fast” international money transfer without value fluctuations. AFAIK, it’s used to send money back overseas without fees and for online casinos. Most stablecoins are based on the USD, which has been dropping due to the actions of a certain person. It seems like a reasonable decision to create an “official” euro stablecoin. The EU has been pushing for an EU payment processor to avoid reliance on US based / connected payment countries, this seems like it might be related to that.
Money transfers, online payments for whatever, place to park your assets in volatile times in the market, integration into other on-chain investment systems, etc…