Standard Chartered Bank: Stablecoins are increasingly being used in traditional finance, with huge growth potential

According to a report by CryptoSlate, based on a report from Standard Chartered Bank, stablecoins are shifting from their initial use in cryptocurrency exchanges towards broader applications in global finance. Research shows that stablecoins are increasingly being used for purposes similar to traditional finance, such as dollar savings and trading, as well as facilitating cross-border payments.

The report also points out that the current market value of stablecoins is $163 billion. Although small compared to the overall financial market, there is still huge room for growth.