Introduction The Decentralized Finance (DeFi) Revolution is taking over traditional finance (TradFi) and centralized exchanges (CEX), with billions in...
There are many benefits to stablecoins. Stablecoins are relatively a new technology, but it’s quickly taking over both the finance and business world. Soon, stablecoins will be an essential part of the daily life of millions of people. Why? Because there are numerous benefits to stablecoins.
In the modern era, you can jump on a plane in the US and be in Europe within hours. But your money is still in your American bank account, and when you try to make a transfer, there will be a high exchange rate to deal with, and your bank may not allow transfers to certain countries. Stablecoins don’t have these problems. Stablecoins can easily be transferred to anyone worldwide, as long as that person is prepared to receive the transfer. Thus, one of the main benefits of stablecoins is that they are borderless.
Making an international transfer is difficult and expensive. Most banks start international transfers at a $25 fee or more while also taking a percentage of the transaction. Stablecoins make your transfer possible and inexpensive, as most transactions only cost a small fraction of the money you are sending. It means that you no longer have to incorporate the transaction fee to send the amount needed.
When making a bank transfer, you pay a high service fee while not knowing if your bank can do it, and it could take up to 5 days for the transfer to complete. In the modern world, where immediacy is critical, slow speed can hurt businesses. With stablecoins, the money you want to send will arrive within minutes, and with some stablecoins, the transfer will be instant.
No Off Days
Another problem with fiat transfers is there are bank holidays and weekends when you can’t transact. This inhibits any transfers you may need to make on the weekend or on a holiday which may not be an off day for your business which is another benefit of using stablecoins, as it operates 24/7/365.
Stablecoins are stable because a fiat currency backs them. The money you put into a stablecoin transfer, minus whatever fees you incur, will be the money your recipient gets. This way, when you place a product order from other countries, you won’t have to worry about the foreign exchange rates in the middle of your purchase.
Stablecoins are also programmable so that you can create and design a stablecoin tailored to your exact business needs, such as supply chain organization and communication. Stablecoins can also help develop an easy-to-use loyalty program for both the employees and the customers.
Overall, the above benefits are only some of the many provided when you decide to use stablecoins. No matter what you may be looking for in technology, stablecoins can help your business. For more information about how stablecoins can improve your business operations and markedly improve your bottom line, send us a message at https://www.stably.io/contact/.
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