👉👉👉 #ElonMusk's SpaceX Leverages #Stablecoins for Currency Hedging

#spacex Uses Stablecoins to Avoid Forex Risks

- Chamath Palihapitiya revealed on the All-In podcast that SpaceX leverages stablecoins to mitigate foreign exchange risks, especially in countries with volatile currencies. Payments for Starlink services are collected in stablecoins, then converted to U.S. dollars.

The Advantage of Stablecoins

- Stablecoins provide a hedge against forex risks by maintaining consistent value, bypassing traditional banking systems’ inefficiencies and fees. Palihapitiya emphasized that reducing transaction costs—like Stripe’s 3% fee—could significantly boost global GDP.

Rising Competition

- Stablecoin providers like #tether and Circle are challenging banks and payment giants such as MasterCard and American Express, offering faster, cheaper cross-border transfers.

Elon Musk's Crypto Vision

- Elon Musk’s crypto-friendly stance extends to SpaceX and Tesla, which has profited over $1 billion from #bitcoin . On X (formerly Twitter), Musk introduced cryptocurrency tipping, fueling speculation about its role in future payments.

Conclusion

SpaceX’s adoption of stablecoins highlights their growing importance in global commerce, offering cost-efficiency, speed, and protection against currency volatility.