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Are there any difficulties in expanding the application of stablecoins at present?
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Before banks, enterprises and fintech companies fully adopt stablecoins, they urgently need regulators to provide clearer policy guidance to effectively manage risks. Therefore, I think regulatory uncertainty is a challenge.
The lack of stablecoin usage scenarios has restricted its popularity among ordinary consumers. The payment scenarios used by consumers in daily life are relatively fixed, and stablecoins have not yet been deeply integrated into them. Many consumers lack the actual demand and motivation to use stablecoins.
The degree of acceptance of stablecoin payments by enterprises greatly affects the promotion process of stablecoins. At present, enterprises are faced with the dual test of willingness and ability when accepting stablecoin payments. On the one hand, some enterprises have limited knowledge of stablecoins as an emerging payment method and have doubts about their security and stability, which leads to low willingness to accept them. On the other hand, even if enterprises have the idea of accepting stablecoin payments, in actual operation, they may still face difficulties in technical docking, financial accounting, compliance supervision and other aspects, which limits their acceptance ability.
Some blockchain networks, such as Ethereum, have congestion and high gas fees, which affect the user experience of stablecoins.
Stablecoins on different blockchains are difficult to interoperate, which limits their application scenarios in the multi-chain ecosystem.
Reduce reliance on escrow agents
Regulatory maturity and institutional adoption
