The 'Past and Present' of #稳定币

The birth of stablecoins is inseparable from the 'pain points' of cryptocurrencies.

After the 2008 financial crisis, Bitcoin emerged, but its price fluctuated like a roller coaster, soaring to nearly $20,000 in 2017, and then dropping to $3,000 in 2018. This made many people hesitant: they wanted to use cryptocurrencies to buy things but were afraid the price might drop to zero overnight.

In 2014, USDT (Tether) appeared, becoming the first stablecoin pegged 1:1 to the US dollar, completely changing the rules of the game. The core of stablecoins is 'stability.' By pegging to assets like the US dollar and gold, it ensures that 1 stablecoin ≈ 1 US dollar, with minimal volatility.

You can use it to exchange for Bitcoin on crypto exchanges, or you can make cross-border transfers, with funds arriving in minutes or even seconds, and the fees are less than one-tenth of traditional banks. In some countries with severe inflation, many people use stablecoins to 'store up dollars' to preserve their wealth.

The charm of stablecoins lies in their combination of the advantages of blockchain (fast, low-cost, decentralized) and the stability of traditional currencies. By 2025, the global stablecoin market size reached $230 billion, with 99% being US dollar-pegged stablecoins, making it a 'hard currency' in the crypto market.

In the wave of stablecoins reshaping global payments, the BiyaPay platform focuses on security and compliance, supporting immediate conversion of USDT with fiat currencies such as the US dollar and Hong Kong dollar. Its advantages include:

Seamless exchange: Connecting mainstream stablecoins (USDT/USDC) with multiple fiat currency channels, addressing users' deposit and withdrawal pain points;

Compliance and risk control: Adhering to Hong Kong's 'Stablecoin Regulation' reserve requirements, ensuring assets are fully backed 1:1;

Scenario coverage: Supporting cross-border payments and adapting to diverse financial needs.

With the rapid development of stablecoins and digital currencies, the BiyaPay platform not only provides convenient payment and trading services for global users but also offers a safer and more efficient trading environment.