$USDC Regulation of stablecoins is the "next catalyst" for the crypto industry that could lead to unprecedented "appetite from institutional investors," according to Esha Pampati, head of ecosystem at Aptos Foundation.

Stablecoins are often used for transferring money across borders, as they are easier and cheaper to transfer than traditional financial methods like bank transfers. They are also used for hedging against fiat currency, which can significantly depreciate in a short period of time in emerging markets.

According to a new survey by Fireblocks, Latin America leads all regions in the actual use of stablecoins, with 71% of respondents stating they use this technology for cross-border payments.

Half of the respondents in the region, which encompasses several developing countries, stated that they expect stablecoins to offer lower transaction costs than traditional financial channels.