Standard Chartered: Stablecoins are increasingly used in traditional finance, with huge room for growth

According to a report by Standard Chartered Bank, stablecoins are shifting from their initial use in cryptocurrency exchanges to wider applications in global finance, with research showing that stablecoins are increasingly used for purposes similar to traditional finance, such as US dollar savings and transactions and facilitating cross-border payments. The report also pointed out that the market value of stablecoins is currently $163 billion, which is small compared to the overall financial market, but there is still huge room for growth. (cryptoslate)