{"id":17160,"date":"2024-09-20T19:33:44","date_gmt":"2024-09-20T16:33:44","guid":{"rendered":"https:\/\/forklog.com\/en\/visa-predicts-surge-in-non-dollar-stablecoins\/"},"modified":"2024-09-20T19:33:44","modified_gmt":"2024-09-20T16:33:44","slug":"visa-predicts-surge-in-non-dollar-stablecoins","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/visa-predicts-surge-in-non-dollar-stablecoins\/","title":{"rendered":"Visa Predicts Surge in Non-Dollar Stablecoins"},"content":{"rendered":"<p>In the coming years, demand for stablecoins based on non-dollar fiat currencies is expected to rise. This was stated by Kai Sheffield, head of Visa&#8217;s cryptocurrency division, as reported by <a href=\"https:\/\/www.theblock.co\/post\/317549\/non-dollar-stablecoins-will-rise-visa-head-of-crypto\">The Block<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cDollars are great for cross-border transactions, but you need to be able to convert them quickly and efficiently. Other currency stablecoins can play a big role in this,\u201d he noted.\u00a0<\/p>\n<\/blockquote>\n<p>The Visa executive added that in the future, all major fiat currencies will be represented on the blockchain, although USD stablecoins currently make up 99% of the market.\u00a0<\/p>\n<p>Sheffield finds it \u201cexciting\u201d to see more stablecoins emerging that attempt to differentiate themselves from USDT or USDC.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cNow it seems that in most cases people are explicitly using stablecoins. They know what a stablecoin is, and there is a brand directly oriented towards the consumer. But there are many other use cases that can occur just on the backend, where the brand doesn&#8217;t matter, and then it all comes down to economics,\u201d added the senior manager.\u00a0<\/p>\n<\/blockquote>\n<p>Sheffield stated that 2024 marked a turning point when some non-crypto companies attempted to solve issues with payments to overseas freelancers using stablecoins, especially in high-inflation countries like Nigeria and Argentina.<\/p>\n<p>Currently, the question of whether stablecoins can become an internal payment medium linking both cross-border and local domestic payment systems remains both a challenge and a significant opportunity, emphasized the head of Visa&#8217;s crypto division.<\/p>\n<p>Back in 2025, BitGo plans to release a dollar-backed stablecoin, USDS, which will offer passive income.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the coming years, demand for stablecoins based on non-dollar fiat currencies is expected to rise. This was stated by Kai Sheffield, head of Visa&#8217;s cryptocurrency division, as reported by The Block. \u201cDollars are great for cross-border transactions, but you need to be able to convert them quickly and efficiently. Other currency stablecoins can play [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1138,807,157],"class_list":["post-17160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-opinions","tag-stablecoins","tag-visa"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=17160"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/17159"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=17160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=17160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=17160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}