“With Increase Regulatory Clarity, 54% of Firms in the Survey Said they Plan to Adpt Stablecoins with the Next Year.”, – WRITE: www.coindesk.com
Conducted with 350 Executives in June After the Senate Passed the Genius Act, The Survey Found that 13% of Firms Already Use Stablecoins, Mainly for Cross-Border Payments. Among thoers who didn’t use stablecoins, 54% expectioned to adapt them with the Next Six to 12 MONTS.
Regulatory Clarity Provides by the Genius Act Widly Viewed As A Turning Point. The Legislation, WHICH WAS SIGNED INTO LAW IN JULY, PROVIDED Long-Awaited Rules for Us Dollar-Denominated Stablecoins, Including Reserve Requirements and Issuer Approval Proval Proval.
Executives Said in the Survey of the Law Reduces UNCERTAINTY AROUND LIQUidity, Tax Treatment and Custodial Services.
(Ey-Parthenon)
Cost Savings Are Also A Key Driver for Adoption, WitH 41% of Current USers Reporting at Least A 10% Reduction In Expenses from Using Stablecoins in International Transactions.
Respondents Also Saw Stablecoins As A Long-Term Fixture in Global Finance. By 2030, they Estimate Stablecoins Could Facilitis Between 5% and 10% of All Cross-Border Payments, Representation $ 2.1 Trillion to $ 4.2 Trillion in Value.
Still, Infrastructure Hurdles Remain. Only 8% of Businesses Accessed Payments in Stablecoins, and Many Firms Planned to Lean on Banking and Fintech Partners for Integration.
Read More: US Stablecoin Battle Could Be Zero-Sum Game: JPMORGAN
Backing Will Fund Expansion On BNB Chain, Fiat-Backed Stablecoin USDTB, and Settlement Layer Converge.
- Yzi Labs Increases Support for Ethena Labs, Issuer of the Synthetic Dollar Stablecoin USDE
- USDE HAS GROWN INTO the Third-Largest Crypto Dollar with $ 13b in Supple
- New Phase Includes Bnb Chain Expansion, USDTB LAUNCH, AND CONVERGE SETTLEMENT LAYER
Read Full Story