Important Innovations in the World of Financial Technology and Digital Currencies. Stablecoins are a type of cryptocurrency designed to reduce price volatility, typically pegged to a traditional currency such as the US dollar or the euro. By using them for payments, stablecoins provide a practical and fast solution that combines value stability with the efficiency of blockchain technologies.

Payments using stablecoins are utilized in e-commerce, international remittances, remote worker salaries, and decentralized finance (DeFi) applications. They also reduce the costs associated with traditional banking transactions and expedite cross-border payments without the need for intermediaries.