Standard Chartered: Stablecoins are increasingly being used for traditional financial purposes

According to a report by Standard Chartered, stablecoins are moving from their initial use in cryptocurrency exchanges to wider use in global finance, with research indicating that stablecoins are increasingly being used for purposes similar to traditional finance, such as dollar saving and trading and facilitating cross-border transfers. The report also notes that the stablecoin market cap is currently $163 billion, which is small compared to overall financial marekt, but still has significant room for growth.