Stablecoins have gained a solid reputation as on-ramps for anyone looking to buy cryptocurrencies, but we’ve also witnessed these versatile tokens moving into new areas. In fact, by taking a closer look at some cutting-edge industries, we can see how stablecoins are making a huge difference.
iGaming Liquidity and Instant Transfers
The success of online casinos is due to the combination of various technologies that have come together in recent years. This Tether casino reveals how players can try slots with jackpots, instant games, and live-streamed table games. However, all of these different ways of gambling require a fast, secure transfer method that players can use to add funds and withdraw their winnings.
Alternative cryptos like Bitcoin (BTC) and Ethereum (ETH) can be used for these transfers, but the use of Tether (USDT) removes the volatility that is generally witnessed in the price of these tokens, which suits some players more. By using USDT, players know exactly how much they’re gambling in dollar terms, and that the amount will only vary according to their wins and losses.
Tether is used in an online casino in the same way as any other digital asset. You need to create a new account and choose the token you plan to fund your account with. You’ll be shown the casino’s wallet address and simply need to transfer the amount of your deposit from your wallet to theirs.
Withdrawals go the opposite way but are just as easy to process. This removes the anxiety that many players once felt when waiting several days for a bank transfer or check to come through. It also means that market volatility makes little difference to the amount won.
And as slots have become more complex and introduced more features, including big multipliers, having simple, straightforward payment options has become more critical.
Global Trade Simplified
Emerging markets in regions like Latin America and Africa are benefiting enormously from the stablecoin revolution. In these areas, local businesses have traditionally struggled due to the volatility of their currencies and a lack of US dollar liquidity.
While they now operate on a global basis, thanks to tools such as Payoneer, Airwallex, and Wise Business, a poor or restrictive local banking infrastructure can still be a major problem when adding or withdrawing funds. This is frustrating when they know that global marketplaces are now open to them, with a vast range of products that can be shipped quickly and cheaply across the globe.
Thankfully, stablecoin-native payment systems are now giving them a competitive edge in their quest to expand their business horizons beyond their border. A merchant in Brazil can now easily send money to another in Nigeria instantly, with 24/7 liquidity and no nasty surprises with unstable exchange rates.
This means that tools like digital supply chains, autonomous agents, and online marketplaces can all be used far more easily to make international trade smoother and faster. UN Trade and Development figures suggest that e‑commerce sales are growing at a much faster rate than the overall GDP, making this channel more important than ever.
Let’s not forget that many people turn to the blockchain as their only way of accessing financial services for doing online business. Over 80 million unbanked adults who work in agriculture in Sub-Saharan Africa receive payments for their goods in cash, so it’s no surprise that regions like this are leading the way in crypto adoption, which opens up new ways of doing business that never existed for them before.
Using stablecoins for national and international trade removes the risk of their earnings losing value before they use them. Even two people who share the same national currency may now prefer stablecoins to fiat money. This can then act as a gateway to other digital financial services, such as loans backed by their digital assets.
The Circular Economy
The final area we need to consider is how stablecoin technology is also boosting the circular or regenerative economy. The key in this case is that these tokens provide the stability and efficiency needed, as well as a high degree of transparency at every stage.
If we look at the carbon credits markets, we can see that stablecoins are used on many of the platforms that tokenize these credits. This gives users a stable, known reward level for their eco-friendly actions. They’re also typically used as waste management incentives, in projects like Plastic Bank, where users get rewards for carrying out sustainable actions.
Regenerative finance is also known as ReFi. It includes a combination of DeFi tools and ecological projects. Stablecoins often lie at the heart of these projects, which focus on ecological restoration, sustainable agriculture, and the protection of biodiverse areas. It’s an area that covers a large range of projects around the world, with some instances where stablecoins are ideal for removing volatility.
The benefits offered by stablecoins have made them well-suited for many existing and emerging industries. Expect to see new ideas emerge in the future, as the world gets used to dealing with these tokens for new and interesting use cases.
