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Stablecoins Account for Just 0.2% of Global E-Commerce Transactions, Highlighting Regulatory and Market Challenges
The post Stablecoins Account for Just 0.2% of Global E-Commerce Transactions, Highlighting Regulatory and Market Challenges appeared on BitcoinEthereumNews.com. Recent insights reveal that stablecoins make up a mere 0.2% of global e-commerce transactions, highlighting challenges in adoption and regulatory hurdles. As the demand for digital currencies grows, the scarcity of non-USD pegged stablecoins is becoming increasingly apparent, creating barriers for wider acceptance. According to Lawrence Chu, CEO of IDA, “stablecoins can offer cost efficiency, enhanced transparency, and faster processing that traditional systems simply can’t match.” Stablecoins remain underutilized in global e-commerce, with just 0.2% transaction value, emphasizing the need for more non-USD options to meet market demand. The Challenge of Stablecoin Adoption in E-Commerce Despite the growing attention on cryptocurrencies, stablecoins have yet to make a significant impact on the e-commerce landscape. A recent report by Quinlan & Associates and blockchain developer IDA indicates that stablecoins, while promising, currently account for just 0.2% of the total online commerce transactions globally. This figure underscores a critical challenge in the path towards mainstream acceptance. Regulatory Uncertainty and Market Acceptance The issues hindering stablecoin usage primarily stem from regulatory uncertainties. Benjamin Quinlan, CEO of Quinlan & Associates, noted that approximately 81% of merchants cite regulatory ambiguity as a major deterrent to adopting digital assets, including stablecoins. This hesitance is compounded by the limited options available for non-USD stablecoins, with many international transactions still reliant on traditional fiat currencies. The Demand for Non-USD Stablecoins The report emphasizes the urgent need for stablecoins pegged to currencies other than the US dollar. Currently, a staggering 83% of countries do not use the USD as their primary currency. With an estimated 40% of international payments conducted in non-USD currencies, the lack of available stablecoins in these markets presents a significant oversight. IDA’s upcoming launch of a stablecoin pegged to the Hong Kong Dollar (HKD) demonstrates a proactive approach to addressing this gap. Market Dynamics and Government…
The post Stablecoins Account for Just 0.2% of Global E-Commerce Transactions, Highlighting Regulatory and Market Challenges appeared on BitcoinEthereumNews.com.
Recent insights reveal that stablecoins make up a mere 0.2% of global e-commerce transactions, highlighting challenges in adoption and regulatory hurdles. As the demand for digital currencies grows, the scarcity of non-USD pegged stablecoins is becoming increasingly apparent, creating barriers for wider acceptance. According to Lawrence Chu, CEO of IDA, “stablecoins can offer cost efficiency, enhanced transparency, and faster processing that traditional systems simply can’t match.” Stablecoins remain underutilized in global e-commerce, with just 0.2% transaction value, emphasizing the need for more non-USD options to meet market demand. The Challenge of Stablecoin Adoption in E-Commerce Despite the growing attention on cryptocurrencies, stablecoins have yet to make a significant impact on the e-commerce landscape. A recent report by Quinlan & Associates and blockchain developer IDA indicates that stablecoins, while promising, currently account for just 0.2% of the total online commerce transactions globally. This figure underscores a critical challenge in the path towards mainstream acceptance. Regulatory Uncertainty and Market Acceptance The issues hindering stablecoin usage primarily stem from regulatory uncertainties. Benjamin Quinlan, CEO of Quinlan & Associates, noted that approximately 81% of merchants cite regulatory ambiguity as a major deterrent to adopting digital assets, including stablecoins. This hesitance is compounded by the limited options available for non-USD stablecoins, with many international transactions still reliant on traditional fiat currencies. The Demand for Non-USD Stablecoins The report emphasizes the urgent need for stablecoins pegged to currencies other than the US dollar. Currently, a staggering 83% of countries do not use the USD as their primary currency. With an estimated 40% of international payments conducted in non-USD currencies, the lack of available stablecoins in these markets presents a significant oversight. IDA’s upcoming launch of a stablecoin pegged to the Hong Kong Dollar (HKD) demonstrates a proactive approach to addressing this gap. Market Dynamics and Government…
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