#VISA NON-DOLLAR STABLECOIN BOOM PREDICTED
This was stated by Kai Sheffield, head of Visa's crypto division, writes The Block.
The Visa executive added that in the future, all major fiat currencies will be represented on the blockchain, although USD stablecoins currently make up 99% of the market.
For Sheffield, it's "exciting" to see more "stablecoins" coming out that are trying to differentiate themselves from USDT or USDC.
Sheffield said that 2024 was a turning point, with some non-crypto companies trying to solve their problems with paying overseas freelancers with stablecoins, especially in countries with high inflation like Nigeria and Argentina.
At the moment, the question of whether “stablecoins” can become a domestic means of payment, linking both cross-border and local domestic payment systems, remains both a challenge and a huge opportunity, the head of Visa’s crypto division emphasized.
Recall that in 2025, BitGo will issue a dollar-backed stablecoin USDS, which generates passive income.
