Stablecoin news: Stripe CEO Patrick Collison outlines the benefits businesses see in stablecoins, the day after Stripe and Paradigm launched 'Tempo.'

Stripe CEO Patrick Collison said stablecoins are gaining adoption because they offer businesses faster, cheaper and more reliable payments than traditional systems.

  • jacksilver@lemmy.worldEnglish
    1·
    2 days ago

    So I’ve been reading into stable coins a lot, because I don’t understand why anyone would care about them. And what I’ve come to realize is they are a benefit to two groups:

    • Financial institutions: Stablecoins have fewer regulations and basically allow for things you can’t do with actual dollars/currency
    • People with limited access to financial institutions (think poorer people and/or countries): With fewer regulations it’s easier for people to transact Stablecoins than dollars/currency

    At the end of the day, it feels like a “true” digital currency would be the better solution, but everyones jumping on Stablecoins because they’re here now and less regulated.

    I think there is potential in a more cash-like digital currency, but Stablecoins seem ripe to break in some unforseen way, especially given the current administration.

    Edit: Edited to fix formatting.

    • technocrit@lemmy.dbzer0.comOPEnglish
      21·
      2 days ago

      it feels like a “true” digital currency would be the better solution,

      For whom?

      everyones jumping on Stablecoins because they’re here now and less regulated.

      Yeah. Nobody wants to wait around for an imaginary solution from the state. Nobody really wants the state violently attacking their lives. So yeah cryptos are a much better choice for most people and institutions.

      • jacksilver@lemmy.worldEnglish
        2·
        2 days ago

        For your first question, I think the average person would benefit from a simple digital currency that let’s them exchange “cash” without having to jump through a bunch of hoops. Venmo, Zelle, etc. are all proof that normal people want easy ways to pay each other.

        As for your second point, I’m not sure I follow. But I assume you’re implying that crypto is better because it isn’t tied to the state?