What are stablecoins?

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

Their 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 direct payment method.

These shops rely on electronic wallets or POS devices.

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

2. Websites and digital stores:

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

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

And to reach customers in countries suffering from inflation and banking instability.

3. Companies and institutions:

Companies use stablecoins for settling international payments. Meta and Visa have begun experiments 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.

JP Morgan launched its digital currency, JPM Coin, to transfer funds between accounts.

Central banks are considering issuing national currencies (CBDC) inspired by stablecoins.

Developments in this field:

Countries have started regulating their use, and others have begun developing them with their own systems.

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