Stablecoins are expanding beyond crypto trading and will soon impact broader financial systems, according to Eric Chen, CEO of Injective Labs,
What Happened: In an interview with Benzinga, Chen emphasized stablecoins are set to transform industries by addressing inefficiencies in mainstream finance and enhancing transaction speed and accessibility across global markets.
He believes stablecoins will soon become a cornerstone of major financial processes, particularly in areas such as cross-border payments and capital formation.
“We’re talking about reducing any sort of international wire or transfer down to the matter of minutes or seconds,” Chen told Benzinga.
While their initial focus has been on trading and speculation, stablecoins’ true power lies in their ability to bridge gaps in the existing financial system, providing faster and more secure transactions compared to legacy systems like SWIFT, according to Chen.
He …
Full story available on Benzinga.com