Stablecoins, which are cryptocurrencies with their price anchored to government-issued currencies, are becoming increasingly popular for payments worldwide. They provide a more efficient and cost-effective way to transfer money. As countries implement regulations for this asset class, more banks are showing interest in creating their own stablecoins. For example, Spanish bank BBVA has announced its plans to launch a stablecoin on the Ethereum blockchain next year using Visa’s tokenization platform.
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