Stable cryptocurrencies are usually defined as those that are linked to the price of a real asset, such as the dollar or gold, among others. For experts, the benefits of this type of instrument include lower cost payments, with greater security, in real time and more competitive compared to what consumers and businesses currently experience.
"This type of instrument is designed to drastically reduce volatility relative to traditional cryptocurrencies, such as Bitcoin or Ethereum, resulting in a form of digital money that is better suited than other cryptocurrencies to modern business, transactions and daily transfers," explains Alex Pereira, CEO of PMI Americas, a Fintech that streamlines international payments and collections with a focus on the Chilean commercial sector and companies providing services abroad.
Looking to the future
In the payments area, both online banking and the Fintech industry are part of this phenomenon in which commerce and finance are being digitized in response to new business models and new consumer habits, offering the possibility of carrying out transactions outside traditional banking platforms.
"Today it is possible to make payments from the phone or company accounts, a trend that is gaining ground driven by large corporations such as Amazon or Google, to name a few," says the executive.
Along the same lines, the PMI Americas expert states that "stable cryptocurrencies could quickly make it cheaper for businesses to accept payments and easier for governments to execute conditional cash transfer programs including the sending of stimulus money. They could also connect unbanked and underbanked segments of the population to the financial system. However, for this to be viable, it is important that sound legal and economic frameworks are put in place.
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