What are stablecoins?
Stablecoins are cryptocurrencies pegged to the value of another currency, commodity, or financial instrument, primarily the United States dollar on a one-to-one basis.
Which region is leading the way for stablecoin adoption?
APAC. The region accounted for 29% of stablecoin transactions volume in 2022.
Why is APAC the global leader in stablecoin adoption?
The primary factor is APAC’s large unbanked population as shown by the fact that 46% of the region’s 1.8 billion online population are digital wallet users.
What are some of the stablecoins powering web3 in APAC?
Some stablecoins in APAC are XSGD (Singapore Dollar peg), JPY Coin (Japanese Yen peg), PHX (Philippine Peso peg), and IDRT (Indonesian Rupiah peg).
Stablecoins are the financial powerhouse of web3 in APAC whereas APAC DAO is the community powerhouse of web3 in APAC.