TechFlow news: Cryptocurrency investment firm CoinShares said bitcoin-based stablecoins could emerge as early as 2024, potentially matching the speed and cost of other leading stablecoins in the industry.
CoinShares' Head of Bitcoin Research Christopher Bendiksen and analyst Matthew Kimmel stated, "We suspect that corporate adoption and Bitcoin plug-ins will steadily integrate stablecoin payments, paving the way for sustained growth in usage. Bitcoin’s architectural design inherently lacks the flexibility to natively support externally pegged assets such as dollar-backed tokens. Moreover, history shows that stablecoin adoption tends to migrate toward platforms offering the lowest transaction costs and highest speeds."
According to Trust Machines, several Bitcoin infrastructure companies—including Stacks, RSK, and Liquid Network—have already created stablecoins on top of Bitcoin's base layer. USDA, Dollar on Chain (DoC), rDAI, and Liquid-based Tether (L-USDt) are all U.S. dollar-denominated stablecoins launched on Bitcoin Layer-2 networks.
