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Stablecoins and their applications in the business field

Have you ever tried to make an international transfer to pay suppliers or customers abroad?

You will most likely know that the SWIFT transfer system was founded in 1973 and that today it is quite outdated and inefficient in terms of time and speed of information processing.

This is something that Blockchain technology solves, allowing transfers to be made in minutes and thus globalizing the economy.

A Stablecoin is a cryptocurrency (virtual currency) with parity to another, which in this case may be a fiat currency such as the dollar.

That is, a virtual currency such as USDC, USDT, DAI, among others, is generally worth 1 US dollar.

These can be used as a payment method thanks to the fact that their exchange is easily accessible.

The purpose of a stablecoin is to provide a digital currency with fixed values ​​and stability in times of crisis or political uncertainty, which can then be used across borders for instant transactions without the risk of loss or volatility in value over time. as traditional cryptocurrencies do when converting between different currencies on exchanges today.

Central banks, commercial banks, and other financial institutions issue stablecoins on their balance sheets and are held against reserves, allowing them to maintain a 1:1 peg to a particular fiat currency while providing stability and trust. in the purchasing power of cryptocurrency.

So if you have a company that mainly carries out international trade operations, we recommend you start using StableCoins as a payment method and even financing.

 

 

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