Thread by @EcoinOfficial

Total stable coin value just hit $150 billion up from $20 billion a year ago ( Tether + USDC + BUSD + TUSD + DAI). stable coins are going to be a huge game-changer and will trigger a new gold rush in modern 'banking ' #stablecoin #newgoldrush #ecoin
Time for a 🧵

Unlike cryptos like Bitcoin or Ethereum which are highly volatile, Stable coins like USDT, USDC are pegged to the value of the U.S dollar, which offers friction-free dollar payments.

Up until now, Stable coins are primarily used by arbitrage traders to extract arbitrage opportunities across various crypto exchanges.
In the recent past however stable coins are being increasingly used for remittances across different countries like Lebanon, Nigeria etc.

Remittances to these countries typically cost 8-20% via Moneygram / western union etc and take 2-5 days. Stablecoins can do this at close to zero cost and near-instantly, this is a huge game-changing opportunity.

Apart from Remittances, the people in developing countries are also using stable coins for investing and as a means escaping inflation in their local currencies like in the case of Lebanon which just suffered from 90% inflation in 2020.

In Lebanon, many merchants even accept stable coins like USDT from everything from mobile phones to second-hand cars.

U.S regulators recognize the enormous potential of stable coins for dollarization across the globe and are finalizing the guidelines for issuing them. The next 10 years will see an explosion in the usage of stable coins.

People across developing countries will use stable coins as a means to escape the gruelling inflation in their local currencies by fleeing to the dollar.

A whole new banking stack will be built on stable coins powered by cheap smartphones and the internet.
An entire banking stack of payment wallets, POS systems, credit institutions, reward programs etc will be built by stable coin banks and wallet providers. 🚀🚀🚀

This will unleash a 'banking' goldRush to the likes which we have never seen in the past creating many unicorns and decacorns in this space and the best part of you have the US Govt on your back.

want to benefit from this megatrend?
Ecoin is currently the fastest growing crypto wallet & exchange ecosystem onboarded 1 Million users in the last 12 months. our goal is to bring 100s of millions of users into stable coins and also long term ones like Bitcoin etc.

Our vision is to build super user-friendly and secure crypto solutions for everyday people with help of cutting edge AI technology. Our onboarding cost is 10x lower and simpler and is 10-20x more scalable than our competitors ( like world Coin ).

Our team spent over 2-years perfecting user-onboarding & fraud prevention and has deep know-how of users from developing countries and the cultural nuances.

If you are interested in learning more about how we aim to be the first crypto wallet/ exchange ecosystem to onboard 100 million users into 'modern banking' and want to ride the stable-coin revolution, please write to [e-mail]