Stablecoin issuer Circle has introduced a new version of its euro-backed stablecoin, EURC, now available on the Stellar network. This innovation offers users the ability to handle business via blockchain networks in local currencies. However, converting blockchain transactions into local currencies remains complicated, highlighting the integration challenges that the blockchain community faces.
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Surge in Stablecoin Use Amid Argentina’s Political Turmoil: A Deep Dive into Crypto’s Role in National Economy
Amidst Argentina’s economic crisis and hyperinflation, Argentinians are significantly increasing their purchase of stablecoins as a viable way to protect their savings. The trend, spurred by government restrictions on foreign currency buying and a depreciating peso, also sees an increasing number of transactions and salaries being paid in cryptocurrencies. The upsurge coincides with the rise of presidential candidate, Javier Milei, who holds a positive stance towards cryptocurrencies.