🪙SpaceX uses stablecoins to minimize currency risks
Elon Musk's company SpaceX employs stablecoins to protect against currency fluctuations in countries with high inflation.
- Customers using Starlink satellite internet pay for services in local currency.
- These payments are converted into stablecoins pegged to the US dollar to avoid depreciation.
- The funds are then converted back into US dollars, minimizing the risk of currency losses.
This approach demonstrates how cryptocurrencies can be an effective tool for managing financial risks in global business.