Agora CEO: The next decade will see most cross-border payments shift to stablecoins

ChainCatcher news, according to Nick van Eck, CEO and co-founder of stablecoin issuer Agora, in an interview with Coindesk, payment methods based on blockchain are expected to surge in the next decade. He said, "We will see most cross-border payments shift to stablecoins instead of using Swift like the current banking system. You will also see a lot of foreign exchange trading settle on-chain. We are excited to play a significant role in these two growing markets."

Nick van Eck also stated that the main obstacle to widespread adoption of stablecoins is regulation. Businesses are eager to use stablecoins because they are cost-effective and fast, but they need clear legal and compliance frameworks, such as knowing who the licensed providers are. Stablecoins have gained attention in the crypto-native space, but there is still untapped potential in traditional markets like cross-border payments and B2B transactions. He stated, "I think this is just the beginning of a twenty-year journey towards mass adoption."