Currently, 99% of stablecoins settle in dollars. When two non-US counterparties trade through dollar rails, both sides pay the spread and carry FX risk on a currency neither of them uses. This is a structural inefficiency imposed by the settlement layer, and it scales with every transaction the system processes. Watch our President of Stablecoin Ecosystem, Ramana Kumar, on @FINTECHTVglobal explaining why the next generation of settlement infrastructure has to be multi-currency, and why the dirham anchors it.
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