In this field, the stablecoins – stable records backed by dollars or liquid financial assets – promise to change the rules with immediate transfers, without intermediaries and with minimal costs, thanks to recent regulatory advances, said experts in the sector.
New Law will reduce costs
With the recent genius law in the United States, these digital currencies will be regulated under stricter standards, since they must be backed one by one with dollars or treasure bonds, report public audits and operate with bank licenses.
For Silvina Moschini, founder of Unicoin, the regulation and evolution of the sector will help generate confidence with greater transparency among those involved.
If you buy a currency under regulations from the United States, you know exactly who is behind, how much support it has and how money is used. That gives users security anywhere in the world
Silvina Moschini, founder of Unicoin
Mexico, being one of the countries that receives the most remittances, makes it a strategic land for these new digital currencies. If the stablecoins manage to settle, the beneficiaries could receive more money and immediately, without relying on expensive intermediaries. But for this potential to be completed, a clearer regulatory framework in the country will be necessary.
“The intermediaries are more restless and are already taking steps. For example, Moneygram – one of the most dominant remittance companies – has already incorporated the tokenization and the stablecoins throughout their operation. That is, indeed, if you can not with your enemy, join him. Who will use a remittance service of late remittances 24 or 48 hours or more with 10% Cost? ”, says Miguel Caballero, founder of the company specialized in tokenization Tutellus.
Bitso, a pioneer company in Mexico in cryptocurrencies, had its greatest growth in the country for 2024 and thanks in large part to remittances.
However, the expert emphasizes that Mexico is in a “sandwich” position, with the United States regulating in the developed world and El Salvador in emerging countries.
Sooner or later, Mexico will have to advance in regulation, because if not, talent and capital will go to other jurisdictions
Miguel Caballero, founder of the company specialized in Tokenization Tutor
TUTELLUS already tokeniza Mexican active from other countries and see a growing market in the region.
According to a CITI analysis, the stablecoins are especially valuable in emerging countries, where access to the dollar is expensive or restricted, a condition with which Mexico fulfills as a recipient of remittances.
A stablecoin battle
The American regulation opens the door to a war for the stablcoins. Until now the market was dominated by Tether (USDT) and Circle (USDC), but with new rules, banks, Fintech and even the large retail brands can launch their own digital dollars.
“What is coming is a fierce competition between emitters to win users and confidence,” says Moschini, who explains that brands of all types of sector can generate their own currencies, to generate fidelity, for example.
In addition, Caballero explains that this Stablecoins business is growing at an accelerated pace from the pandemic.
“Five years ago the Stablecoins market moved about 4,000 million dollars; today there are 400,000 million. The financial world realized that the infrastructure of the future will be tokenized. Banks, corporations and even states are preparing their own stable currencies.”
In May, it was revealed that Banco Santander is evaluating (Early-Stage Plans or initial stage plans) expand its digital asset business, including preliminary plans to offer a stablecoin and give crypto access to OpenBank retail customers, although there is still nothing official.
In a more balanced vision the Citi analysis It indicates that the future will be hybrid, with the stablecoins, digital currencies of central banks and deposit tokens living according to their function and the market. But recognize that this coexistence will define the system in the next decade.
The impact of tokenization will not be limited to the stablecoins. According to Caballero, brands will soon discover that they can take other assets, tangible or intangibles to Blockchain to create incentive systems, fidelity programs or new business models. “Maybe the stable currencies are the Trojan horse, but behind there is a huge potential to transform complete industries,” he says.
Moschini agrees that education will be fundamental, since people must understand how these assets work, their risks and advantages. Otherwise, Stablecoins could become fertile terrain for speculation. “The key is to balance innovation with user protection,” he warns.
