Gani Uzbekov, CEO “S1lk Pay” on the panel “Stablecoins and the future of digital finance”
Stablecoins are gaining real momentum
They help people in unstable economies protect their savings from inflation, shield against currency fluctuations, and support loved ones across borders — instantly. This is not driven by regulation or ideology — it’s driven by pure market forces.
Meanwhile, governments around the world are trying to respond — by launching CBDCs, or by encouraging private institutions to issue local stablecoins under their supervision.
Yet, the developing world will face a challenge competing with USD stablecoins, which already dominate global circulation. At the same time, Chinese stablecoins are slowly expanding their footprint in emerging markets.
The biggest regulatory challenge ahead?
Merchant acceptance. Most local authorities will likely push for stablecoins pegged to local currencies, potentially requiring national blockchains built and controlled by local governments.
The tension between open, market-driven stablecoins and state-controlled digital currencies is just beginning to unfold.
