Stablecoins: The Future of Global Banking

Stablecoins, digital currencies pegged to assets like the US dollar, are experiencing rapid growth and revolutionizing money movement. Once dominated by Tethers USDT and Circles USDC, the market is now diversifying, offering advantages like 24/7 settlement and digital money movement. Stablecoins are becoming integral to the internets financial system, with banks and fintech companies exploring their use for payments and money transfers. The stablecoin market value reached $300 billion in September, with Citi predicting it could reach $1.9 trillion by 2030. Meanwhile, tokenized deposits, bank-issued digital tokens, are emerging, offering similar benefits within existing banking regulations. Experts predict these roles will converge, potentially transforming banking into programmable infrastructure and modernizing the dollar for global markets.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.