Visa Crypto Director: Non-US dollar stablecoins may rise in the next few years

Odaily Odaily News: Cuy Sheffield, head of Visa's crypto business, said that in the next few years, the demand for stablecoins based on non-US 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 reflected on the blockchain in the future. He welcomes the emergence of more stablecoins in the market that are trying to differentiate themselves from USDT or USDC, and believes that this is an "exciting" trend. He also emphasized that 2024 is a turning point, and some non-cryptocurrency companies are beginning to try to use stablecoins to solve the challenges of paying overseas freelancers. (TheBlock)