In the current market situation we have seen a significant demand for the stable coins. Deva the time when stable coins had little use case but no of the scenario has changed where the demand for stable coins have improved drastically and it is all because of the enhanced utility.
I believe that it is very good for the Crypto ecosystem where just buy holding the stable coins people can make some money out of it through different protocols. Also people prefer to trade through the stable coins in the market and with these stable coins most of the protocols are offering a descent apr. This is my VC more innovation happening in this segment.
Now fidelity is going to launch its stable coin during this market situation when the market is not bullish but things are getting better gradually.
Fidelity’s entry into the stablecoin space is part of a broader trend of traditional financial institutions exploring the potential of blockchain technology and digital currencies.
We have already seen that triple had its stable coin and even foundation has got its stable coin but now fidelity being leading company in US has announced to launch its stable coin. This is happening after us has become a good place for the Crypto companies and hopefully they should be bringing more value to the entire Crypto eco system.
Now let's see how things are going to turn off and what value addition it does to the Crypto if a system where as we are going to see the launch happening soon in the market. I think that it is a good edition in the market however it is a bit early to see how things will be straightening up but if it goes well then probably the market will be a girl to accommodate more stable coins because overall demand is going up.
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