Will stablecoins be widely adopted?

Stablecoins might not make people into instant millionaires the way bitcoin did, but these cryptocurrencies are designed to be more useful when it comes to daily life.

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The Genius Act, a regulatory framework recently signed into law by US President Donald Trump, may boost stablecoins, digital currencies with values pegged to a country’s traditional currency.

Here are potential uses for stablecoins, the most popular of which are Circle’s USDC and Tether’s USDT, both tied to the US dollar.

MONEY TRANSFERS

Most people who want to send money to someone, particularly across national borders, rely on services such as Western Union, Ria and MoneyGram, which charge relatively high fees for the service.

Stablecoins allow direct transactions between people, making funds instantly available to recipients, typically at lower fees.