Dollar-pegged stablecoins have become a financial lifeline for people in some economies with high inflation says IMF

The International Monetary Fund or IMF, in its latest issue of Finance & Development magazine has offered a detailed analysis of how technology, data, and changing societal values are reshaping how people and institutions move money and trade financial assets. The fund noted that Stablecoins are one of these frontiers, a form of digital asset backed by currencies or government bonds. Stablecoin companies have racked up millions of users globally, transacting across borders 24/7 at very low cost. New legislation in the US and other countries may further boost their growth. Dollar-pegged stablecoins have become a financial lifeline for people in some economies with high inflation, IMF has stated.

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