The adoption of stablecoins has accelerated rapidly in the last year, with the total outstanding balance of fiat-backed stablecoins reaching $154B as of March 2022. Our latest eBook, designed for today’s financial leaders, provides a comprehensive overview of stablecoins and a forward-looking view as to why stablecoins will be essential to the open financial system.
While stablecoins – digital tokens that are backed by stable assets such as the US dollar – were originally created for crypto investors to have an easy on- and off- ramp between fiat currencies and crypto, their use cases have expanded. In the past year specifically, the market has seen mainstream financial enterprises begin to use stablecoins for everyday financial transactions. Examples include Mastercard launching stablecoins for settlement, and Mercado Pago, the largest payments app in Latin America, launching Paxos’ regulated stablecoin USDP to their Brazilian users. Both integrations are powered by Paxos blockchain infrastructure.
Stablecoins have significant potential beyond the crypto ecosystem, bringing greater financial inclusion, efficient money movement, and instantaneous settlement to the everyday consumer and mainstream financial firms. However, as stablecoin usage and market cap have increased, so has regulatory scrutiny. In particular, the reserve practices of various stablecoins have increasingly been in the spotlight.
Our latest eBook covers these topics and more. We provide an overview of stablecoins, their history, and key milestones in the space. We break down the benefits and use cases of stablecoins for the global economy, and dive into regulations and reserve practices for the key stablecoins on the market.
Learn more about stablecoins, why global demand is rising, and the role stablecoins will play in the open financial system.