#StablecoinPayments First: What are stablecoins?
Stablecoins, among the most famous are: USDT (Tether), USDC, and DAI
Their uses:
1. Shops and restaurants:
Some shops in developed countries and some developing countries (such as the UAE and Singapore) have started accepting stablecoins as a direct payment method.
These shops rely on electronic wallets or POS (Point of Sale) devices.
Advantage: instant transfer, low fees, and no need for intermediaries.
2. Websites and digital stores:
E-commerce companies Shopify and WooCommerce have started to offer payment gateways that accept stablecoins.
They are used to purchase products, subscriptions, and donations.
And to reach customers in countries suffering from inflation and banking instability.
3. Companies and institutions:
Companies use stablecoins to settle international payments. Meta and Visa have started trials to integrate USDC into their operations.
4. Banks and financial institutions:
Some banks have begun collaborating with blockchain companies to develop stablecoin-based solutions.
JPMorgan launched its digital currency JPM Coin to transfer money between accounts.
Central banks are studying the issuance of national digital currencies (CBDC) inspired by stablecoins.
Developments in this field:
Countries have started to regulate their use, and others have begun to develop them within their own systems.
Bank cards: Some companies provide Visa and MasterCard cards that work with stablecoin balances.