Adoption of stablecoins as a growth factor

Today, I want to discuss the topic of stablecoin adoption.

🔤 Recently, Tether CEO Paolo Ardoino stated that an audit of Tether’s reserves could finally take place thanks to the cancellation of Chokepoint 2.0.

The company is currently working with a «Big Four» auditing firm to carry out the audit of its reserves.

The Choke Point 2.0 operation is a term used to describe the Biden administration's alleged strategy aimed at limiting cryptocurrency companies’ access to banking services.

🔎 What will this bring? It will reduce concerns about USDT, including accusations of illegal activities, and confirm Tether’s reserves (~$143 billion).

This is important since Tether is the 7th largest holder of U.S. government debt.

It was reported yesterday that the U.S. House will consider stablecoin legislation on April 2.

🔖 It seems that China also doesn’t want to fall behind in this «war», and rumors are already circulating that the government plans to accelerate the development of stablecoins backed by the yuan.

It’s safe to say that stablecoins will play an increasingly important role in the global economy, and their adoption and integration into financial systems will only benefit cryptocurrency.

❕ The market capitalization of stablecoins is currently $237 billion, nearly double last year’s figure. New ATHs for stablecoins are historically bullish for the crypto market, though time is needed.🔥