Abstract

Stablecoins represent a significant innovation by combining blockchain technology’s efficiency with the stability of fiat currencies. 

Supported by regulatory frameworks such as the GENIUS Act in the US, their adoption is expected to grow, potentially reshaping global payment systems and influencing monetary policy transmission. While offering advantages like faster and cheaper cross-border payments, stablecoins also pose risks related to reserve management, cybersecurity, and financial stability. 

This article provides a thorough analysis of the opportunities, regulatory challenges, and macroeconomic and geopolitical implications associated with the expanding stablecoin ecosystem.

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