Welcome to our look at how the world of stablecoins changed in 2019. It was an eventful year, with companies like JPMorgan and Facebook announcing their plans for their own versions of stablecoins. Of course here at Paxos, we saw our own stablecoin Paxos Standard (PAX) rise in influence. We also started offering Stablecoin as a Service, powering new stablecoins for some of the biggest cryptocurrency exchanges in the world: Binance (with its Binance USD or BUSD stablecoin) and Huobi (with its HUSD stablecoin). Central banks and governments have also expressed interest in issuing their own digital currencies, bringing a new twist to current monetary policy and management over fiat.
2020 is likely to bring even more changes – both in technology and regulation. We expect to see stablecoins become even more influential as their use cases broaden, become more mainstream and scale beyond imagination. Take a look below at our review of the past year and predictions for the year to come.