Bitcoin has long sought gateway use cases to increase adoption.
On Friday (Aug. 23), reports said Wyoming is launching a U.S. dollar-backed stablecoin for consumer payments. Wyoming Stable Token may launch in Q1 2025. Stablecoins may be the best way to get into digital assets, say researchers.
Mercado Pago, the financial arm of Latin American eCommerce giant Mercado Libre, launched a U.S. dollar-pegged stablecoin in Brazil on Wednesday (Aug. 21).
Stablecoin Meli Dollar may be purchased and traded using the Mercado Pago app without transaction fees during the first phase to eliminate Brazilian Real currency swings and boost scalability.
In 2022, Mercado Libre debuted Mercado Coin, a cryptocurrency used for purchases and cash back, as part of its loyalty program. It has also sought to integrate bitcoin, Ether, and the Pax Dollar (USDP) stablecoin for payments.
Mobile payment users may use stablecoins like the Meli Dollar or Wyoming Stable Token in digital wallets. More establishments using stablecoins will provide users more secure ways to engage with digital assets. This may progressively increase end-user bitcoin acceptability, particularly among firms wary of joining the market.
