Enhancing Payment Ecosystems: The Role of Stablecoins in Modern Finance |
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| © 2024 by IJCTT Journal | ||
| Volume-72 Issue-4 |
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| Year of Publication : 2024 | ||
| Authors : Varun Jain | ||
| DOI : 10.14445/22312803/IJCTT-V72I4P116 | ||
How to Cite?
Varun Jain, "Enhancing Payment Ecosystems: The Role of Stablecoins in Modern Finance," International Journal of Computer Trends and Technology, vol. 72, no. 4, pp. 123-135, 2024. Crossref, https://doi.org/10.14445/22312803/IJCTT-V72I4P116
Abstract
The rapid evolution of digital finance has spotlighted stablecoins as pivotal players in enhancing payment ecosystems, offering a formidable alternative to conventional fiat currencies through their stability, cost-efficiency, and speed. This article delves into the transformative potential of stablecoins, exploring their ability to mitigate traditional payment system inefficiencies and foster financial inclusion. Employing a mixed-method research approach, the paper evaluates stablecoin adoption across payment platforms, highlighting their role in reducing transaction costs, shortening settlement times, and extending financial services to unbanked populations. It also addresses regulatory and technological challenges, advocating for a balanced framework that ensures security while promoting innovation. This comprehensive analysis reveals that the widespread adoption of stablecoins could mark a new era in financial transactions, characterized by efficiency, inclusivity, and stability, heralding a significant step towards an integrated and accessible global financial landscape.
Keywords
Stablecoins, Digital Finance, Payment Systems, Financial Inclusion, Transaction Efficiency, Regulatory Framework, Cryptocurrency Stability, Technological Innovation, Global Financial Ecosystem, Cost Reduction.
Reference
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