Visa crypto chief: non-USD stablecoins may rise in coming years

The demand for stablecoins based on non-USD fiat currencies will grow over the next few years, and while the US dollar is suited to cross-border transactions, fast and efficient local currency conversions are equally important, providing a huge opportunity for other local currency stablecoins, according to Cuy Sheffield, head of crypto at Visa. Cuy Sheffield predicts that every major fiat currency will be represented on the blockchain in the future. He welcomes the emergence of more stablecoins in the market that try to differentiate themselves from USDT or USDC as an ‘exciting’ trend. He also highlighted 2024 as a turning point when some non-cryptocurrency businesses start to experiment with stablecoins to solve the challenge of paying freelancers overseas.