In times of economic uncertainty, the first thing that is sought is where to protect the value of the money. The dollar was historically that shelter. Today, that logic also moves to the virtual ecosystem, where Stablecoins They gain prominence as a Alternative that combines the stability of the dollar with the agility of the digital world.
The Stablecoins They are blockchain -based digital assets that are designed to Every token worth the same as the currency it represents –A dollar, one euro, a peso, or the fiat asset that is. Behind each token issued or created there are Verifiable reserves or a Automatic mechanism that corrects the offer to sustain parity. For that reason They serve as a means of payment and savings formunlike Bitcoin or Ether, which are still more volatile digital active.
Although they were born for cripo traders, today the Stablecoins They are a shelter for savers, freelancers and smes. They fulfill a much more daily role in economies such as Argentina, since they are a way to cover, pay and access the global financial system Easily, avoiding system impediments.
According to Chainysismore than 70% of the volume of cryptocurrencies in exchanges in Argentina It is done with stable coins, and Four out of ten new Crypto users in Latam come from the country.
Users -o Holders- buy, keep and exchange their tokens out of necessity. Sometimes for Limitations to the purchase of foreign currencyothers because they find ways to invest through exchanges that simplify the way.
Digital dollar: save, charge and pay without friction
For freelancers and entrepreneurs, Stablecoins opened a huge door: The possibility of charge in dollars His works or sales, fast and without going through banks or eternal procedures. With just one digital walletthey can receive payments from anywhere in the world and use them when they want, Without losing value on the road.
To better understand its operation, it is worth knowing the different “Families” of Stablcoins that circulate today in the crypto ecosystem:
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Fiat-collateralized: Backed by the value of the dollar or treasure bonds stored in regulated banks.
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Crypto-collateralized: Backed by other cryptocurrencies blocked in intelligent contracts.
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Backed by commodities: Linked to physical goods such as gold.
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Algorithmic: stabilized by algorithms and Smart Contracts They regulate the offer.
In all models, the PEG (parity) It is only supported if reserves are liquid and auditablewhich introduces a key issue: Trust. The models Off-Chainas USDT, they require external validations; the ON-CHAINlike DAI, they allow to see in real time the assets that support them.
Digital dollar: advantages, risks and regulation in Argentina and the world
These are some key benefits and risks of the stablecoins:
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Transparency: On-chain models show reservations in real time; Fiat-lowed depend on external audits.
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Performance: Some versions offer automatic returns, but involve risks such as the failure of an exchange or a default.
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Liquidity: Tokens backed by global assets (dollar, gold) have better liquidity. The premises still face high Spreads.
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Regulation: The legal framework in the region is evolving, with advances and limits.
In Argentina, they function as a kind of “Savings Box 2.0”accessible from the cell phone and without caves. In Lemonfor example, users assign Almost 30% of its funds to Stablecoinsabove the weight and only behind Bitcoin.
Brazil He already launched the pilot of his Real Digital (Drex) and enabled a Payment market to distribute your own stablecoin. Projects like Agrotoken They already connect real products such as soy, wheat or corn With blockchain technology.
As for local regulation, the CNV requires segregated custody of digital assets and reports to the FEIC. In addition, the government launched a Tokenization regimealthough the BCRA continues to prohibit the direct marketing of Stablecoins by banks.
Globally, the European Union He already launched its regulatory framework for cryptoactive and in USA One is debated federal law that could change the rules of the game.
Matter Labs Head of Growth for Latin America
Source: Ambito
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