Stablecoins Are Doing For Money What WhatsApp Did For Messaging, Crypto Venture Capitalist Says
Chris Dixon, managing partner at venture firm a16z crypto, says blockchain-based stablecoins are transforming the global payments landscape in the same way WhatsApp upended costly international phone calls.
What Happened: In a blog post published on Thursday, Dixon outlines how stablecoins are emerging as internet-native alternatives to legacy financial networks bogged down by fees, delays and multiple intermediaries.
“The internet made information free and global. So why is it still so hard — and expensive — to move money?” Dixon asks.
He points out that a $200 international remittance still costs an average of 6.62% in fees, which he calls a regressive tax on the world’s poorest workers.
Stablecoins—cryptocurrencies pegged to assets like the US dollar like USDT (CRYPTO:
About The Author
