Stablecoins are increasingly becoming part of everyday transactions. From now on, consumers can use the stablecoin DAI for purchases at any EU store that accepts VISA credit cards. Meanwhile, Tether (USDT), the most widely used stablecoin, continues gaining traction among e-commerce merchants.
DAI Now Accepted at EU Stores
Financial platform 2Gether recently announced its integration of DAI, marking its first stablecoin support. With this update, users can spend DAI just like euros—without fees—wherever VISA payments are accepted. Additionally, 2Gether enables:
- Fee-free trading of DAI against 13 other cryptocurrencies.
- Seamless transfers of DAI to external wallets.
The platform cites DAI’s decentralized nature and price stability as key reasons for its adoption, emphasizing its role in expanding crypto utility.
👉 Discover how stablecoins simplify global transactions
E-Commerce Platforms Favor Tether’s USDT
Paolo Ardoino, CTO of Tether and Bitfinex, highlights USDT’s expansion into e-commerce, noting its speed advantage over traditional payment systems:
"Merchants need stablecoins to hedge against volatility from assets like Bitcoin. USDT adoption is growing rapidly, though we’re still evaluating data as this trend develops."
Recent reports suggest USDT’s stability has made it a preferred payment method, rivaling Bitcoin and Ethereum in adoption rates. However, regulatory challenges—exemplified by Facebook’s stalled Libra project—cast uncertainty over stablecoins’ future.
Regulatory Hurdles for Stablecoins
Governments worldwide are scrutinizing stablecoins:
- U.S.: A proposed bill aims to classify managed stablecoins as securities, placing them under SEC oversight.
- Germany: The government opposes private stablecoins like Libra, asserting they threaten national currencies. A ban on such assets is under consideration.
👉 Why regulation could reshape the stablecoin landscape
FAQs
1. How does DAI differ from USDT?
DAI is algorithmically stabilized and decentralized, while USDT is fiat-backed and centrally managed.
2. Can stablecoins replace fiat currencies?
Not yet—regulatory and scalability barriers limit their use as full substitutes.
3. Are stablecoins safe for merchants?
Yes, their low volatility reduces exposure to crypto market swings.
4. Which countries restrict stablecoins?
Germany and the U.S. are leading regulatory efforts; others may follow.
5. What’s driving stablecoin adoption?
Speed, lower fees, and compatibility with global crypto ecosystems.
Disclaimer: This content is for informational purposes only. It does not constitute financial advice. Investors should conduct independent research before making decisions.