Investor Kevin Olieri said during a major speech in consensus 2025 that foreign currency platforms and global payments are severely pressured against Stablecoins, whose business models are greatly disrupted.
Olry said at the Toronto conference that Forex platforms and payments often extract large fees to serve cash transfers across borders and stand on revenues if the organized Stablecoins becomes acceptable as a cheaper and faster alternative.
“Trading currency is a millions of dollars in a market-which is old, ugly and ineffective,” Oliri said.[ t]It is the biggest threat to this monopoly or a few is organized stablecoin. ”
He said: “Once approved, the FX market with billions of dollars becomes effective, transparent and inexpensive.”
Stablecoin Legislation
Oliri added that the American lawmakers are working on legislation that accelerates the adoption of Stablecoin.
American Senate members aim to pass the alleged genius law-a framework to regulate Stablecoins- Before the end of May. “Once SEC agrees to the Stablecoin Law, every organizer in the United States – Abu Dhabi, Switzerland, England will follow,” Oliri said.
He added: “Who is anxious about this? The financial services industry. They hate this idea, and they are working hard to prevent this bill from happening now.”
Oliri said that the organizational clarity of Stablecoins may be an introduction to the broader cryptocurrency that could open trillion dollars in institutional capital.
“When this language comes out, people will really see a good improvement, and progress, over things like consumer protection, bankruptcy protection, and morals,” said American Senator Curturn Gilbrand.
As of May 15, its value collectively is approximately $ 250 billion in the market value, according to Data From Coingecko. The data showed that Stablecoin Usdt from Tether from Tether is the pioneer, with a market cost of about $ 150 million. USDC followed by Circle, and another from the United States clashed for stability with a market ceiling for more than $ 60 billion.
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