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36% Of Global CFOs Would Like to Settle Payments in Stablecoins

36% Of Global CFOs Would Like to Settle Payments in Stablecoins

Last updated 15th Dec 2022
Disclosure
  • The price of stablecoins is less volatile.
  • Stablecoins can be used for payments because they do not experience significant value changes.

CFOs (Chief Financial Officers) worldwide are increasingly interested in settling payments in stablecoins. According to BanklessTimes.com, 36% of global CFOs surveyed (18yrs-35yrs) prefer to settle payments in stablecoins and to hold them on their balance sheet. This can be attributed to the fact that these coins are less volatile and more predictable than non-pegged cryptocurrencies like Bitcoin.

According to BanklessTimes CEO Jonathan Merry,

The rapid rise in popularity of stablecoins has been met with equal enthusiasm from CFOs, who are looking for more reliable payment methods with low volatility. We believe that the use of stablecoins will continue to gain traction in the years to come.
BanklessTimes CEO, Jonathan Merry

Benefits of Stablecoins

The main benefit of using stablecoins is that they help provide a secure and reliable platform to facilitate payments, allowing users to store value in an environment less prone to manipulation. Thanks to the involvement of a range of third-party players, consumers can tailor their crypto payment experience with relative ease. Corporate treasurers are also well-versed in the difference between non-pegged and pegged cryptocurrencies, allowing them to make informed decisions regarding settling payments.

The need for reliable and secure payment systems has never been greater. With the help of stablecoins, users can reduce the risks associated with fluctuating cryptocurrency prices and make more informed decisions when processing payments. This could be a significant breakthrough for businesses looking to leverage the power of digital currencies without exposing themselves to unnecessary risk.

Pegged Cryptocurrencies

Most stablecoins are linked to standard currencies, such as EUR, GBP, or USD. Tether is a popular cryptocurrency pegged to USD. A USD Tether (USDT) has the same value as $1, meaning there is a 1-to-1 peg. In other words, one USDT token is always valued at $1.00. This makes it easier for users to track and trade their assets without worrying about wild price fluctuations.

Overall, the emergence of stablecoins as a viable payment option is helping to revolutionize the way payments are made and received worldwide. As more CFOs become aware of their advantages, they likely become essential to any business’ payment strategy. This is especially true for those looking to remain competitive in the increasingly digital financial market. With their ability to provide stability and security, stablecoins will continue gaining traction as a preferred payment option by both businesses and consumers.

Elizabeth Kerr

Elizabeth Kerr

Elizabeth is a financial content specialist from Manchester. Her specialities include cryptocurrency, data analysis and financial regulation.