S TABLECOIN
16 16
BITCOIN PAYMENTS ARE GREAT, BUT STABLECOINS ARE THE FUTURE OF CRYPTO VISA IS JUST THE BEGINNING Headlines by Visa are making waves in the cryptomarket and highlight one important trend; the crypto marketplace is rapidly becoming differentiated, with stablecoins occupying a leading position. Bitcoin continues to lead the way in terms of crypto conversation, investment trends, and market capitalization, but the reality is a little more complicated than some commentary might have one believe. Especially with the announcement that PayPal is now allowing customers to transact in bitcoin, it is all too easy to assume that is the only main story in the crypto space. WRITER: SEAN STEIN SMITH, DBA, CPA, AS ORIGINALLY PUBLISHED WITH FORBES.COM PROFESSOR, ENTREPRENEUR, CPA, AND ENTHUSIAST FOR EVERYTHING BLOCKCHAIN
Cryptocurrencies and cryptocurrency applications continue to emerge and develop rapidly, but to date the conversation has been dominated by bitcoin. Price volatility (especially upward volatility), of course, does tend to make headlines, draw eyeballs, and lead to increased financial interest as well as conversation. That
CURAÇAO BUSINESS | EDITION 2021
said, more (allegedly) mundane versions of cryptocurrency – stablecoins – look increasingly like the method by which crypto will achieve mainstream adoption and utilization. For the purposes of this conversation, stablecoin s c an b e summ ar i zed a s
cryptocurrencies that are backed, tethered, or otherwise supported by an underlying asset. Stablecoins can be backed or supported by virtually any asset imaginable, but the U.S. dollar seems to be a popular asset to stabilize cryptocurrencies with. This is all well and good, and the stablecoin subset of the crypto space has grown
