Agora CEO: Next decade will see most cross-border transfers to stablecoins

Nick van Eck, CEO and co-founder of stablecoin issuer Agora, said in an interview with Coindesk that blockchain-based payment methods will proliferate over the next decade. "We will see most cross-border transfers move to stablecoins instead of using Swift like the current banking system," he said. "You will also see a lot of foreign exchange transactions settled on-chain. We are excited to play a significant role in these two growth markets."
Nick van Eck also said that the main hurdle stablecoins face in achieving widespread adoption is regulation. Businesses are keen to use stablecoins because of their cost-effectiveness and speed, but they need to clarify the legal and compliance framework, such as knowing who is a licensed provider. Stablecoins have gained attention in the crypto-native space, but there is still untapped potential in traditional markets such as cross-border transfer and B2B transactions. "I think this is just the beginning of a two-decade journey of mass adoption", he said.