Stablecoins: the ‘killer app’ of the financial world? (Part 1)

Stablecoins have become a game-changer in digital finance - powered by blockchain technology - to offer a faster and cheaper alternative, especially for cross boarder payments. Potentially, however, the fact that they enable programmability offers a genuine alternative to the way we pay for goods and services. And, unlike cryptocurrencies which can fluctuate wildly, stablecoins are typically pegged to assets such as the US dollar, Euro, gold, in fact the backing of a stablecoin is unlimited. Initially used for trading and lending on crypto exchanges, stablecoins’ purpose has now broadened considerably.

In today's financial landscape, stablecoins are redefining global payments by offering instant and affordable transfers that sidestep the limitations of traditional banking. They also provide an avenue for financial inclusion, allowing those without bank accounts to participate in global markets accessing lending and borrowing facilities in ways that historically had not been possible. F…