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 accepting stablecoins as a direct payment method.

These shops rely on electronic wallets or POS terminals.

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

2. Websites and digital stores:

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

They are used to purchase products, subscriptions, and donations.

And to 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 begun collaborating with blockchain companies to develop stablecoin-based solutions.

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 regulating their use, while others have begun developing them with their own systems.

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