Imagine Explainers - AI Explainer Videos
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Imagine Explainers - AI Explainer Videos
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Why non-USD stablecoins won’t take off (anytime soon) Everyone asks: why are almost all stablecoins in U.S. dollars? After all, the dollar isn’t 99% of global trade or money supply. But that comparison misses the point. Stablecoins don’t mirror the world’s GDP, they mirror global demand for permissionless money. Even before crypto, most of the world already thought in dollars. In Nigeria, Argentina, or Turkey, people price goods and save in USD (often cash). 50% of US cash is held abroad. It's the world's biggest "2nd currency". So while stablecoins started as a trading tool to avoid crypto volatility, it was a short leap to use them to avoid economic volatility. A simple way to get money out of unstable systems (like China). Meanwhile, local payments already work fine. PIX, UPI, and mobile money solved that problem. A BRL or INR stablecoin doesn’t add much value there. Sure, we’ll see more MXN, BRL, and EUR tokens for FX corridors. But they’ll stay small, use-case specific. You only need enough float for liquidity. The rest off-ramps to fiat. Non-USD stablecoins can be better money (programmable, open, composable) leading to new innovation and competition: think BaaS 2.0. But that future takes time. Meanwhile USD stables will keep scaling across trading, DeFi, cross-border, and capital markets: By 2030, maybe $30B in non-USD stables But still <1% of a $3T stablecoin market. What would shift this in favor of non USD?



















