According to TechFlow, on November 28, CryptoSlate reported that Standard Chartered Bank's latest research report showed that stablecoins are gradually developing from being used only in cryptocurrency exchanges in the early days to becoming an important tool in the global financial field. Data shows that the current market value of stablecoins has reached 163 billion US dollars, and its application scenarios in emerging market countries are becoming increasingly rich.
The survey shows that in countries such as Brazil, Turkey, Nigeria, India and Indonesia, 69% of respondents use stablecoins for currency substitution, 39% for payment of goods and services, and another 39% for cross-border payments. Currently, US dollar stablecoins account for 99.3% of the total market value, but other fiat stablecoins are also beginning to appear.
Standard Chartered Bank pointed out that in emerging markets where traditional cross-border banking is limited, stablecoins provide a fast and reliable solution for transferring digital dollar assets. The report predicts that if the US stablecoin regulatory bill is passed under the Trump administration, the application of stablecoins will be further expanded.
