Stablecoins are a type of cryptocurrency that has evolved into its own segment, functioning as a stable form of digital money. They are particularly valuable for global remittances, as demonstrated by their application in helping Filipino overseas workers (approximately 15-20 million people working abroad in sectors like domestic helpers, cruise liners, and factory workers in the Middle East, Korea, and Japan) receive financial services in their home country while being paid in foreign currencies.
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Stablecoins are quietly changing how the world sends money #shorts #crypto #stablecoinAdded:
for stable coins, uh it is moving towards sort of uh you know, just another word for money.
Stable coins are a type of crypto.
Right? But, it's sort of like it has grown out of crypto and can be its own segment now. What do you regard as your largest opportunity for growth? I think right now, what we see is that there's like almost 15 or 20 million Filipinos that work overseas, either as domestic helpers, work on cruise liners, as factory workers in the Middle East and Korea and Japan. The financial services they need are actually back home in the Philippines, whereas they get paid in the local dollar. We really believe that by sort of um using stable coins as sort of the the conduit, we can actually be able to deliver financial services that they need at home here in the Philippines uh while working overseas.
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