Author: David Feliba, CoinTelegraph; Translated by: Bai Shui, Golden Finance
Although the Trump administration laid a preliminary foundation for regulating the cryptocurrency industry in the United States (with the expectation that the White House's new crypto czar will set the direction in the coming months), these digital assets have already thrived in emerging markets.
Stablecoins are pegged to fiat currencies and are becoming an important financial tool for many developing countries, facilitating remittances and cross-border trade, bridging the financial inclusion gap, and providing inflation hedges in countries where traditional banking often falls short and millions are virtually unbanked.
Stablecoins (mainly pegged to the US dollar) have seen explosive growth in recent years, with their actual use cases rapidly expanding to Africa, Latin America, and some developing countries in Asia. While the United States is still exploring how to apply this technology beyond the crypto space, emerging markets have demonstrated the importance of stablecoins.
In these places