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What’s driving this change?
#StablecoinSurge
A financial revolution is unfolding in Eastern Asia right now! Stablecoins and cryptocurrencies are rapidly replacing traditional fiat currencies. Eastern Asia has already emerged as the sixth-largest crypto economy. Looking at the period from summer 2023 to summer 2024, we can see that it captures over 8.9% of global cryptocurrency value.
What’s driving this change? The answer lies in high inflation and weakening local currencies. Therefore, people turn to stablecoins to stay protected as fiat devalues. It’s no surprise that stablecoins become the preferred option, offering lower costs and ease of use, especially for cross-border transactions.
In particular, Hong Kong is taking the lead since it rises as a crypto hub. The growth of crypto adoption is impressive: by 85% in just one year. However, the popularity comes at a cost, attracting the attention of regulators. As a result, central banks are preparing to limit the impact of stablecoins on fiat dominance.
The main question arising now is: Will stablecoins keep gaining momentum?
$BNB
#StablecoinSurge #CrossBorderCrypto #FutureOfMoney #CryptoVsFiat
A financial revolution is unfolding in Eastern Asia right now! Stablecoins and cryptocurrencies are rapidly replacing traditional fiat currencies. Eastern Asia has already emerged as the sixth-largest crypto economy. Looking at the period from summer 2023 to summer 2024, we can see that it captures over 8.9% of global cryptocurrency value.
What’s driving this change? The answer lies in high inflation and weakening local currencies. Therefore, people turn to stablecoins to stay protected as fiat devalues. It’s no surprise that stablecoins become the preferred option, offering lower costs and ease of use, especially for cross-border transactions.
In particular, Hong Kong is taking the lead since it rises as a crypto hub. The growth of crypto adoption is impressive: by 85% in just one year. However, the popularity comes at a cost, attracting the attention of regulators. As a result, central banks are preparing to limit the impact of stablecoins on fiat dominance.
The main question arising now is: Will stablecoins keep gaining momentum?
$BNB
#StablecoinSurge #CrossBorderCrypto #FutureOfMoney #CryptoVsFiat
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