The following reasons clarify the importance of stablecoins:
Speed: Transfers settle in seconds and are available 24/7, unlike traditional bank transactions.
Cost-efficiency: They eliminate costly intermediaries, reducing transaction fees significantly.
Transparency: Every transaction is recorded on the blockchain, allowing for real-time tracking and automated reconciliation.
Financial access: In countries with volatile currencies, stablecoins provide a secure, stable medium of exchange and store of value.
Visa and Mastercard have taken note. Visa now allows USDC payments in Latin America through partnerships with Circle and Baanx. Mastercard, on the other hand, is deploying global stablecoin payment systems that function round-the-clock.