Stablecoin

Solana

USDC

Frenzy

Trillion

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<p>The European Union is leading the charge in bringing comprehensive cryptocurrency regulation with its <a href="https://www.investopedia.com/what-is-market-in-crypto-assets-6751039#:~:text=The%20Markets%20in%20Crypto%2DAssets%20regulation%20is%20a%20European%20Union,providing%20crypto%20products%20and%20services." rel="noopener noreferrer nofollow">Markets in Crypto Assets</a> (MiCA) framework. A key piece, provisions allowing for regulated stablecoins, will go into effect on June 30th, 2024. This is expected to unleash a wave of Euro-based stablecoins from major banks, fintechs, and crypto-native firms looking to establish themselves in this newly regulated market.</p>
<p>A prime beneficiary of this regulatory clarity is the Solana blockchain, which has seen explosive growth in usage of the USD Coin (USDC) stablecoin. Major players like Visa have already started using Solana's USDC rails for internal settlement, reporting massive efficiency gains. Circle, the issuer of USDC, plans to bring its full web3 services stack to Solana soon, attracting even more usage.</p>
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<p>Payment giants like Stripe, realizing the threat of being left behind, are scrambling to integrate crypto payment flows. Stripe has rearchitected its checkout process to enable seamless USDC payments on Solana and other EVM chains. Avalanche has also partnered with Stripe to make onramps to web3 easier through its Core wallet.</p>
<p>Mobile wallets and contactless payments are poised to be a huge driver of stablecoin adoption. The European Central Bank estimates the total market for non-cash retail payments is $11 trillion. Startups like FN are creating mobile-first "super app" wallets that combine traditional finance and crypto payments in a point-of-sale system.</p>
<p>As of April 30, 2024, the EU blazes this trail, and the pressure is mounting on the US to catch up with clear stablecoin regulation of its own. Lawmakers are taking note of the rapid innovation happening abroad, potentially catalyzing action. 2024 is shaping up to be the year stablecoins go truly mainstream, ushering in a new era of digital payments.</p>
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$100 Trillion Coming To Solana? | EU Stablecoin Frenzy in June!

Paul Barron Network

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