🪙⚔️🛡Get ready for a new chapter in the stablecoin war! ⚔️
According to Fireblocks, global demand for stablecoins that are not linked to the dollar is growing rapidly 🌊 —and it’s not out of whim, but for pure national sovereignty 🏛️.
👉🏻 What's the context? 📌 In an exclusive interview with Cointelegraph, Dea Markova, head of policy at Fireblocks, made it clear that many governments are saying: “Thanks, but no thanks, dollar” 🙅♂️💵. Why? They want to depend less on the U.S. and have total control over their monetary policy in the crypto world 🧠🔐.
Markova didn't hold back and compared this phenomenon to the classic tensions faced by countries against giants like Visa and Mastercard 💳🏦. Now the “villain” is called USDT or USDC —with all due respect, of course 🤷♂️.
🤔 Did you know this?
1️⃣USDT and USDC dominate 87.2% of the stablecoin market 📊, over $210 billion 💰 according to DefiLlama!
2️⃣The 10 largest stablecoins in the market are linked to the dollar 🪙. A brutal hegemony! 🧨
But not everyone is happy about that... 😤
Europe is on fire 🔥
The European Central Bank has already raised the alarm ☁️, pushing for the acceleration of the digital euro development 💶⚙️.
And the Bank of Italy just dropped a bomb 💣: it warned that relying on dollar stablecoins increases systemic risk in the eurozone 🌐⚠️. Ouch!
And who is leading the counterattack? 🥁
No more and no less than the United Arab Emirates 🇦🇪.
In Abu Dhabi, USDT was already approved as a virtual asset in December ✅.
And this April 29, Circle also received the green light to operate with USDC 🟢.
But the most interesting thing: they are working on their own regulated stablecoin... based on the dirham! 🏗️💱
That said, unlike Europe, Abu Dhabi does not require a local office to issue stablecoins. Smart move, right? 🧠✌️
According to Markova, the Arab approach is more open and flexible 👐: each stablecoin is analyzed and it is decided whether it can be offered on local exchanges 🧾📈. Result: better access to liquidity and global payments for local businesses 🌎🚀.
📌 Sources: Cointelegraph
🤔💬And what do you think? 🧐
Do you think other regions should also bet on their own stablecoins? 🌐
Is the economic independence of the future at stake? ⏳
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