Major banks and fintech companies are racing to enter the stablecoin market, with Bank of America signaling its interest in joining the likes of PayPal, Standard Chartered, Revolut, and Stripe. Regulators worldwide are becoming more accepting of stablecoins, which are digital currencies pegged to the value of a dollar, and this shift in stance is being fueled by Donald Trump's pro-crypto policies. Stablecoins are seen as an alternative to traditional banking systems, allowing for faster, cheaper, and more accessible international transactions. Currently, Tether and Circle dominate the stablecoin market, but last month alone, stablecoin transactions reached $710 billion. While the potential in regions with weak financial infrastructure is clear, the use cases in developed markets remain unclear, and there are concerns about the ability of the market to support multiple competing stablecoins.



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