Stablecoins have generated a lot of attention and discussions, but behind the speculation lies an undeniable fact: these digital currencies are already reconfiguring the landscape of international payments and have the potential to play a decisive role in global economic and geopolitical dynamics.
Although some analysts may consider them just another passing trend in the crypto universe, as we have seen before with 'Bitcoin for the unbanked' or the rise and fall of the NFT market, the reality is that stablecoins are not just a narrative. They are a robust innovation. A stablecoin is a digital currency linked to a fiat asset – usually the US dollar – designed to offer the stability that crypto assets have not been able to provide, while maintaining the advantages of agility, reduced costs, and borderless transactions.
The growth in the adoption of these currencies is remarkable, especially in regions like Sub-Saharan Africa, where international remittances face high costs, with average fees of approximately 8%, the highest globally. Here, stablecoins present themselves as a highly effective solution, simplifying transactions and expanding financial access even in areas with little banking infrastructure.
In addition to their practical utility in payments, stablecoins are reconfiguring the global financial system. They eliminate the reliance on traditional banking networks like SWIFT, enabling faster and more accessible transactions in countries where the conventional system faces challenges or is insufficient.
Even more significant is the macroeconomic and geopolitical impact. In 2024, stablecoin issuers like Tether (USDT) have become major buyers of US Treasury securities, with Tether ranking 7th in this ranking – above countries like Canada. Each dollar backed by a stablecoin is, in effect, an exported dollar circulating globally, strengthening the dependence of the US economy while diversifying the demand for its debt.
Stablecoins are more than just a payment solution: they are a clear evidence of the potential of the crypto world to align with the strategic and economic interests of the countries that adopt them. It is a technology that redefines the concept of money and opens new paths for more efficient and inclusive global financial systems.