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Checkout.com is deploying a major platform upgrade to allow consumers to shop using stablecoins and vendors to get paid in stablecoins.
According to a Forbes report, stablecoins were used in more than $30 trillion worth of transactions last year, a volume greater than Visa and MasterCard combined.
Checkout.com is in the process of relaunching its stablecoin settlement service for merchants.
The CFTC is allowing stablecoins to be used for derivatives trade settlement, representing a significant use case approved by regulators.
The Trump administration's strategy is to establish sound crypto regulations and encourage market adoption, making it difficult for a future, potentially hostile administration to reverse them.
Since Q3/Q4 of last year, incumbent financial players have launched furious attacks on pro-crypto regulatory changes due to fears of losing economic rents.
The current SEC chairman wants to migrate capital markets on-chain to achieve instantaneous settlement (T+0).
The rapid U.S. adoption of tokenized dollars is causing global concern that foreign currencies will lose relevance.
Faryar Shurzad of Coinbase believes the U.S. government's past stance on stablecoins sent a message to innovators to either take their ideas overseas or abandon them.
According to Faryar Shurzad, the U.S. government's attitude towards stablecoins has undergone a "sea change" in the last year, creating a permissive environment for developers.
Approximately 250 projects have been announced by major banks, payment processors, credit card companies, and other corporations to integrate crypto into their operations.
Checkout.com was one of the first payment service providers to offer stablecoin settlement to its merchants in 2021, but had to wind the service down due to a lack of regulatory framework and banking partners.