A report by the strategic consulting firm Quinlan & Associates and blockchain developer IDA states that cryptocurrencies, including stablecoins, "account for only 0.2% of the global e-commerce transaction value." Lawrence Chu, co-founder and CEO of IDA, stated in a release: "Combined with the advantages of blockchain-supported features like programmability, stablecoins can provide cost efficiencies, enhanced transparency, 24/7 availability, and faster processing speeds that traditional financial systems cannot match." The report notes that despite this potential, the use of stablecoins "remains primarily within the Web3 ecosystem," citing regulatory uncertainty and limited non-dollar stablecoin options as significant barriers. Benjamin Quinlan, CEO of Quinlan & Associates, stated in a release: "This hesitation is largely driven by regulatory uncertainty, with 81% of merchants believing this is the main barrier to accepting digital assets like stablecoins as mainstream payment methods." Additionally, the report states, "Globally, 83% of countries do not use the dollar as their official currency or second currency, and about 40% of international payments are made in non-dollar currencies, thus there is an urgent need for non-dollar pegged stablecoins." (Cointelegraph)