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Stablecoin Adoption in Asia
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Overview
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Singapore and Hong Kong are exploring the use of stablecoins for everyday life, but their effectiveness has been limited. Tether and USD Coin, the largest stablecoins, primarily serve for crypto trading, leaving the broader population with a preference for banks with deposit insurance.
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How might the adoption of stablecoins impact the traditional banking system in Asia?
What are the potential risks associated with stablecoins and their impact on financial stability?
What measures can be taken to enhance the effectiveness of stablecoins for everyday use?
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