Stablecoins Are Crossing Borders Fast — But Someone Still Has to Convert Them Into Local Money
While Visa's new platform simplifies stablecoin access for financial institutions, the primary challenge for cross-border transactions remains currency conversion. Despite stablecoins facilitating value transfer, the need for foreign exchange pricing, liquidity, and settlement persists in each corridor, creating complex plumbing for fintechs operating in multiple markets. Regulatory bodies are increasingly classifying these activities as foreign-exchange operations, highlighting the ongoing friction in converting stablecoins into local currencies for everyday economic activities.
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