#FDUSD #USDC #EURI 💪💪💪

Visa's Cryptocurrency Statement Came:

Visa's cryptocurrency manager Cuy Sheffield spoke about the future of the sector in his statement. Here are the details.

Visa's cryptocurrency head Cuy Sheffield predicts that stablecoins based on non-dollar fiat currencies will see significant growth in the coming years.

Speaking at the Solana Breakpoint event in Singapore, Sheffield stated that while USD stablecoins dominate the market, other fiat currencies have a role to play in the future of cross-border payments.

"The dollar is great for cross-border, but then you need to be able to convert quickly and efficiently," Sheffield said, adding: "Other local currency stablecoins have a big role to play in this."

USD-based stablecoins like USDT and USDC currently make up 99% of the stablecoin market, but Sheffield envisions a future where all major fiat currencies will be represented on-chain.

Sheffield also said that the diversity of stablecoin offerings is increasing, with many trying to differentiate themselves from the dominant USD options. He noted that most users are now familiar with stablecoins and understand their purpose, but there are other use cases where the branding behind the stablecoin may not be as important as the economics behind it.

Related News Vitalik Buterin Makes a Statement, This Altcoin’s Price Dropped by 50 Percent!

The stablecoin market has seen new entrants this year, such as PayPal’s PYUSD and BitGo’s USDS, both of which are trying to gain a foothold among established companies. BitGo’s USDS, for example, aims to attract institutions by offering financial incentives to provide liquidity. London-based fintech firm Revolut has also announced plans to launch its own stablecoin.

This is not investment advice..!