The financial sector is expected to see a resurgence in investments by 2025 despite tighter economic conditions. Key interest lies in the need to modernize the international financial system.
An Aging and Expensive System
The current international financial system relies on outdated processes. Systems like SWIFT are particularly costly and delay international transactions. Created in 1973, SWIFT exemplifies the obsolescence of many international payment systems. These shortcomings affect global commerce and exacerbate financial exclusion, especially in areas with limited access to traditional banking services.
Democratizing Access to Fiat Currencies
Stablecoins offer an exit for individuals in countries with unstable economies. These cryptocurrencies, pegged to fiat currencies, can protect against inflation and devaluation. This is particularly relevant for Global South countries, where economic instability can erode savings.
Empowering Small Businesses and Freelancers
Stablecoins enable small businesses and freelancers to access global markets, reducing international payment costs. These cryptocurrencies facilitate transactions in any currency, unlocking new opportunities for entrepreneurship and economic growth.
Stablecoins are rapidly gaining influence and already have a significant market volume. They offer a stable, low-cost, and fast way to transfer money, promoting financial inclusion and access to global talent.
