Readers discuss policy momentum for stablecoins, the Israel-Iran war, and pro-baby policies
Asia stands at a crossroads in the evolution of digital finance. As stablecoin adoption accelerates worldwide, the region’s unique strengths and demand for practical financial solutions position it to shape the future of digital money.
The Asia-Pacific’s cryptocurrency adoption rate of 22 per cent far surpasses the global average of 7.8 per cent, according to a study commissioned by CoinDesk. The region also dominates remittances, hosting four of the world’s top five recipients among low and middle-income countries: India, China, the Philippines and Pakistan.
For many in the region, stablecoins – cryptocurrencies pegged to a particular reserve asset, such as the US dollar – offer efficient cross-border payment and a shield against economic volatility. In the past year, transactions worth US$33 trillion have been processed in stablecoins, nearly 20 times the volume of PayPal and almost triple that of Visa, and quickly approaching automated clearing house level, according to venture capital firm a16z.
