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- Solana’s Booming Stablecoin Economy, New Cash-To-Stablecoin Platform & More
Solana’s Booming Stablecoin Economy, New Cash-To-Stablecoin Platform & More
Also: Explore advanced trading with FluxBeam Infinity.
Welcome back!
This is J264G and this week I’ve got these titbits for you:
The Stablecoin Economy: How Solana is poised to play a central role.
Cash To Stablecoins: ZAR leverages local merchants acting as money agents.
Advanced Trading: Take your trading to the next level with FluxBeam Infinity.
In light of recent debates, it helps to keep this in mind ⬇️
Solana talks about the TPS it is currently able to achieve.
While other projects talk about their TPS in some idealized future state.
Don't compare these numbers.
— Durden ∞⧖ (@durdenwannabe)
7:24 AM • Sep 24, 2024
So, nothing else to do but follow Mark's lead.
Locked tf in.
— Beff – e/acc (@BasedBeffJezos)
10:59 PM • Sep 25, 2024
Now, let’s jump right into this week’s newsletter!
Click on any underlined heading/hyperlink to learn more.
Spotlight
The Stablecoin Economy
Many of my friends in the States and Europe frequently express scepticism about the advantages of stablecoin-enabled products and services compared to traditional banking and fintech solutions.
This perspective is understandable, given the well-developed financial infrastructure in these regions. However, this view often overlooks the transformative potential of stablecoins in Latin America, Africa, the Middle East, and parts of Asia.
In these regions, the financial services landscape is often fragmented and inefficient, creating a fertile ground stablecoin-powered solutions can take advantage of.
Why is that important?
Well, a significant portion of the population in these regions is either unbanked or underbanked, meaning they’re lacking access to basic financial services or these are prohibitively expensive. Self custody wallets, however, enable underserved communities to securely send, receive, and store stablecoins with negligible fees, providing an accessible gateway to participate in the global economy.
Moreover, in countries suffering from hyperinflation, stablecoins can provide a much-needed lifeline. People in these regions can convert their local currency into USDT, USDC, or PYUSD, giving them frictionless access to price stability and a safe way to store value in USD — the global reserve currency.
Stablecoin solutions such as Sling, Decaf, and Parallax are also shaking up cross-border payments and remittances. They offer fast, cost-effective alternatives to traditional methods, making them highly attractive for international businesses and millions of migrant workers seeking efficient money transfer options.
Additionally, stablecoins services such as Moonpay, Meso, and Mercuryo act as crucial gateways to DeFi, enabling access to decentralised lending, borrowing, and yield-generating platforms such as Kamino, Drift, Maple, and Credix — all while bypassing traditional banking bottlenecks.
And with the rise of crypto-enabled debit cards such as KAST, Fuse Pay, REAP Card, and Sanctum's Cloud Cards, real-world applications for stablecoins are expanding as well — pressuring both brick-and-mortar and online retailers to finally upgrade their payment and point-of-sale (POS) systems, and leading to reduced transaction costs and enhanced user experiences for all stakeholders involved.
The crux?
As stablecoin-enabled solutions continue to evolve and gain adoption, they'll not just fill gaps in the existing financial ecosystem; they'll redefine it, potentially leapfrogging traditional financial infrastructure altogether.
This transformative potential is where the true killer use cases for stablecoin platforms are likely to emerge and flourish — and Solana is poised to play a central role.
if you’re in crypto, pivot to user friendly
— 0xDesigner (@0xDesigner)
4:17 PM • Sep 23, 2024
Chart Of The Week
After a massive week of flows and two weeks of positive stock market returns, ETF assets are now at about $9.8T, sooo very close to hitting the $10T milestone for the first time. Someone should throw a party.
— Eric Balchunas (@EricBalchunas)
11:51 AM • Sep 23, 2024
News Bites
Crypto Rails: Last week, I discussed Spherenet — a platform reimagining global banking using crypto rails. Now, new details have been released, providing a deeper insight into what Spherenet is all about ⬇️
This year at @SolanaConf, we unveiled the next evolution of Sphere.
In collaboration with @anza_xyz, Spherenet leverages SVM to connect licensed money transmitters and settle fiat currencies seamlessly.
Why is this a breakthrough? ⬇️
— Sphere (@sphere_labs)
4:46 PM • Sep 24, 2024
Cash To Stablecoins: Building on my previous coverage of stablecoin platforms at Breakpoint, ZAR offers a unique solution enabling users to exchange cash for stablecoins through local merchants acting as money agents — significantly enhancing financial accessibility in underserved areas.
📣 1/ Introducing ZAR: Converting cash to stablecoins for the next billion users (ft. DePIN)
Watch @tmnsky share why/how and learn more in the thread below 👇
— ZAR (@zarpay_app)
8:51 PM • Sep 24, 2024
Blockchain Gaming: GameShift has been deployed on the Google Cloud Marketplace, enabling game studios to integrate branded marketplaces, seamless payments, and interoperable game assets (incl. NFT royalties for creators) — all powered by Solana and without the need for blockchain coding. You can review the GameShift documentation here.
Advanced Trading: FluxBeam Infinity, a new token trading interface, comes with a comprehensive data terminal featuring real-time data and notifications — giving traders on Solana a significant edge.
Accelerating Tokenisation: The Tokenized Asset Coalition — dedicated to promoting public blockchain adoption and asset tokenisation — has recently welcomed Solana teams including elmnts, etherfuse, and MetaWealth to help further advance the RWA industry.
Caught In 4K
“If you set up a phantom wallet, a kid can just get a bank account instantly.” – @balajis
— Phantom (@phantom)
11:58 AM • Sep 23, 2024
Weekly Take
🇺🇸 𝗜𝗡𝗦𝗜𝗚𝗛𝗧: SEC Commissioner Hester Peirce says, "We admit that now actually the token itself is not a security, that's something that we should have admitted long ago."
— Cointelegraph (@Cointelegraph)
2:45 AM • Sep 25, 2024
Keks & Giggles
And that's a wrap!
If you'd like to reach me, respond to this newsletter or reach out to me on 𝕏.
Talk soon!
DISCLAIMER
None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. Lastly, please be advised that we discuss products and services from our partners from which our team members may hold tokens/equity.