Siobahn Hotaling, a New York City resident, is a music enthusiast who works for the Adaption Institute, a research organization, and the payments processing platform Global Payments. In her role at Global Payments, Siobahn Hotaling is involved with overseeing the UX design of the company's merchant portal, a suite of products that help merchants manage the payments they process.
According to an April 2022 Global Payments article, stablecoins are emerging as an investment tool. Right now, in the payments and processing industry, consumers are using cryptocurrency for loyalty and rewards, and digital wallets. Moreover, some experts expect the use of cryptocurrency to increase beyond the 300 million consumers who own the currency.
Not only do experts expect its use to increase, but they have also made predictions about stablecoins. Stablecoins are cryptocurrencies that use a fixed asset such as gold, stocks, or actual dollars to back them.
Experts report that this type of currency saw a 500 percent jump in the supply of stablecoins. While these coins are not as regulated, they are perceived as being less volatile than standard cryptocurrencies. Finally, financial institutions can validate stablecoins much easier than other cryptocurrencies while still participating in blockchain networks.
