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Opinion of: Jamie Elkaleh, director of marketing at Bitget Wallet 🌐 Stablecoins initially served as a workaround for crypto traders, creating market liquidity by detaching tokens from the US dollar. However, their role has expanded into an onchain financial layer. Without credible alternatives in Euro and Yen, the dominance of the US dollar in the crypto space could persist, amplifying the impact of US policies on Defi directly. Europe and Japan are urged to develop their own stablecoins for financial autonomy and market diversity. 🚀
The regulated multi-money stablecoins will end the monopoly of dollar cryptography
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