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

ChainCatcher news, according to CryptoSlate, a report by Standard Chartered Bank indicates that stablecoins are shifting from their initial use in cryptocurrency exchanges to a broader application 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 notes that the market capitalization of stablecoins is currently $163 billion, which, while small compared to the overall financial market, still has significant growth potential.