Crypto
Stablecoins Blast Off: Mainstream Adoption Looms
The stablecoin market is on the cusp of significant growth, with experts predicting it will reach $1.45 trillion by 2035.
In June, a consortium of over 140 firms, including Visa and Mastercard, backed the launch of Open USD, a dollar-pegged stablecoin.
Stablecoins are designed to overcome the volatility associated with traditional cryptocurrencies like Bitcoin.
Their value is pegged to a reserve asset, typically the US dollar, which helps maintain stability. Issuers hold a basket of high-quality assets in reserve for every $100 in stablecoins issued.