Stablecoins Will Find Roles Beyond Crypto in Mainstream Economy: Citi
The stablecoin market could soon eclipse the entire crypto trading ecosystem that gave birth to it as regulatory tailwinds allow for the integration of the fixed-value tokens into the mainstream economy, according to predictions from global bank Citi.
Above and beyond their role as tokenized cash for the crypto trading community, stablecoins — digital tokens whose value is pegged primarily to the U.S. dollar — are already expanding into payments and remittances. The next five years will likely see them replacing some overseas and domestic U.S. currency holdings as well as forming part of the short-term liquidity held at banks, according to a recent report from Citi Institute’s Future Finance think-tank. If yield-bearing stablecoins…
