According to Odaily Planet Daily, Cuy Sheffield, head of Visa's crypto business, said that in the next few years, the demand for stablecoins based on non-US dollar fiat currencies will continue to grow. Although the US dollar is suitable for cross-border transactions, fast and efficient local currency conversion is equally important, which provides huge opportunities for other local currency stablecoins.
Cuy Sheffield predicts that every major fiat currency will be represented on the blockchain in the future. He welcomes the emergence of more stablecoins in the market that attempt to differentiate themselves from USDT or USDC, calling it an "exciting" trend.
He also highlighted that 2024 marks a turning point where some non-crypto businesses begin experimenting with using stablecoins to solve the challenges of paying overseas freelancers.
