#StablecoinPayments First: What are stablecoins?

Stablecoins, the most famous of which are: USDT (Tether), USDC, and DAI

Uses:

1. Shops and restaurants:

Some shops in developed countries and some developing countries (such as the UAE and Singapore) have started to accept stablecoins as a means of direct payment.

These shops rely on electronic wallets or POS devices.

Advantage: instant transfer, low fees, and no need for intermediaries.

2. Websites and digital stores:

E-commerce companies like Shopify and WooCommerce have started to provide payment gateways that accept stablecoins.

They are used for purchasing products, subscriptions, and donations.

They also reach customers in countries suffering from inflation and banking instability.

3. Companies and institutions:

Companies use stablecoins to settle international payments. Meta and Visa have started trials to integrate USDC into their operations.

4. Banks and financial institutions:

Some banks have started collaborating with blockchain companies to develop solutions based on stablecoins.

JPMorgan launched its digital currency JPM Coin to transfer money between accounts.

Central banks are studying the issuance of national currencies (CBDC) inspired by stablecoins.

Developments in this field:

Countries have started to regulate their use, and others have begun to develop them within their own systems.

Bank cards: Some companies provide Visa and Mastercard cards that operate with stablecoin balances.