The ‘Big Bang’ of US stablecoins

Written by D. Parsons, USDP, US Stablecoin provider backed by UK property

In the rapidly evolving landscape of global finance, US stablecoins have emerged as a transformative force, challenging the dominance of traditional bank-issued currencies. These digital assets, pegged to the US dollar, are reshaping how value is stored, transferred and perceived worldwide. As local currencies face increasing pressure, stablecoins are poised to redefine monetary systems, rendering traditional banking and central bank policies obsolete in some contexts.

Source: USDP

Stablecoins are blockchain-powered digital assets designed to maintain a stable value by being pegged to a reserve asset, typically the US dollar. Unlike volatile cryptocurrencies like Bitcoin, US stablecoins such as Tether (USDT) or USD Coin (USDC) offer predictability, making them ideal for transactions, savings and as a medium of exchange. In the US, a growing number of banks are compelled to issue their own digital liabilities to compete in this space as stablecoins gain traction for their reliability and…