Posted 12/4/2023, 12:08:26 PM
Stablecoins Offer Emerging Markets Access to U.S. Dollar, But Risk Undermining Local Currencies
- Stablecoins allow emerging markets to access the U.S. dollar and escape local currency volatility
- Apps like Ejara use stablecoins for remittances, investments, and savings in Africa
- Stablecoins could undermine local currencies and central banks in developing countries
- Tether lost its dollar peg during market instability, concerning regulators
- Crypto has real-world use cases in emerging markets beyond speculation