What are stablecoins?

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

Their uses:

1. Stores and restaurants:

Some stores in developed countries and some developing countries (such as the UAE and Singapore) have started accepting stablecoins as a direct payment method.

These stores rely on electronic wallets or POS (point of sale) devices.

The 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 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 solutions based on stablecoins.

JPMorgan Bank launched its digital currency JPM Coin for transferring funds between accounts.

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

Developments in this field:

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

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