. Be it through direct compensation, media partnerships, or networking. The author has a vested interest in the company/ies mentioned in this story. HackerNoon has reviewed the story for quality, but the claims hereon belong to the author. This article is not investment, taxation or legal advice. #DYORWith its launch in 2021, Bluejay Finance seeks to expand the number of stablecoin options available to investors in the DeFi sector that are not USD-based.
Stablecoins may play a significant role in the future of Asian financial services. However, the majority of stablecoin solutions are focused solely on USD and are not suitable for use in the real world, where transactions are denominated in local currencies; this means that users do not have the option of having exposure to currencies other than USD in the DeFi space, exposing them to additional costs and forcing them to use the unfamiliar currency.
Asia has a perfect storm of favourable conditions for accelerating the spread of stablecoins in developing nations in Asia.