#StablecoinPayments

Payments using stablecoins refer to the use of digital currencies linked to a fixed value – usually linked to the US dollar, euro, or gold – to conduct financial transactions. The goal is to combine the speed and flexibility of digital currencies with the stability of traditional currencies.

What are stablecoins?

They are digital currencies that are pegged to a fixed asset (such as the dollar or euro) to maintain their value against fluctuations. The most famous examples include:

USDT (Tether): backed by the US dollar.

USDC: backed by American financial institutions.

DAI: a decentralized stablecoin backed by collateral from other cryptocurrencies.

Benefits of using stablecoins for payments:

Value stability: unlike other cryptocurrencies like Bitcoin, their value does not fluctuate significantly.

Speed of transfers: transactions occur within minutes without the need for banks.

Lower fees: fees are lower than bank transfers or credit cards.

Global access: can be used anywhere in the world without banking restrictions.

Common uses:

Sending money between countries quickly.

Paying for services or products online.

Remittances from workers abroad to their families.

Uses in decentralized finance (DeFi) applications.