Stablecoins will drive institutional adoption in Asia, even if regulators are not happy with it, said Michael Gronager, Chainalysis CEO.
One of the things we have seen as the biggest trends in crypto right now is something as mundane as stablecoins; two-thirds of all transactions are stablecoins.
Last year, one or two banks in Japan wanted to launch a U.S. dollar-backed stablecoin. Now 10 banks want to launch such stablecoins.
Regulators definitely have some level of concern regarding the pace of stablecoin adoption, which is affecting banks' ability to act quickly.
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