TechFlow news — On February 13, according to an article by Jesse Knutson, Head of Operations at Bitfinex Securities, data from Castle Island Ventures shows that in countries such as Brazil, Nigeria, Turkey, Indonesia, and India, 69% of cryptocurrency users convert local currencies into stablecoins.
Jesse pointed out that compared to traditional methods of obtaining U.S. dollars, people prefer stablecoins due to their higher efficiency, lower likelihood of government intervention, and potential for earning yield. Stablecoins provide internet-connected users with near-instant access to the U.S. dollar at minimal transaction costs—an essential advantage for individuals facing double- or even triple-digit inflation daily.
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