In an exclusive interview, Markova described the competition with dollar-pegged stablecoins as “all about sovereignty.” She compared the situation to earlier tensions between governments and US payment giants like Visa and Mastercard.“Now we’re seeing the same dynamic with stablecoins — on a smaller scale for now — but they’re definitely emerging as a new arena for sovereign concerns,” she said.
Source: DefiLlamaFor Markova, the situation is similar to previous conflicts between governments and US payment giants like Visa and Mastercard.“Now we’re seeing the same dynamic with stablecoins — on a smaller scale for now — but they’re definitely emerging as a new arena for sovereign concerns,” she said.
Markova explained that Abu Dhabi's approach is to conduct its due diligence on global stablecoins and decide whether local exchanges can offer them."[...] is a far more reasonable approach to give local businesses access to global liquidity and payments.”In December 2024, USDT was approved as a recognized virtual asset in Abu Dhabi, followed by Circle receiving regulatory approval for USDC on April 29.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Christopher Tepedino
The story "Global demand grows for non-dollar stablecoins, says Fireblocks exec" has 453 words across 18 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Global demand grows for non-dollar stablecoins, says Fireblocks exec" was covered 1 days ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 36 news stories per day.
It's most recent story was published 7 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
