B. Bibliography

Stablecoins & Digital Payments

• World Economic Forum: Stablecoin surge: Reserve-backed cryptocurrencies are on the rise – https://www.weforum.org/stories/2025/03/stablecoins-cryptocurrency-on-rise-financial-systems/

• Reuters: Central bank body BIS delivers stark stablecoin warning – https://www.reuters.com/business/finance/central-bank-body-bis-delivers-stark-stablecoin-warning-2025-06-24/

• Cointelegraph: Stablecoin users grew 53% in one year: Report – https://cointelegraph.com/news/stablecoin-users-53-percent-growth-2025

• BIS: Will the real stablecoin please stand up? – https://www.bis.org/publ/bppdf/bispap141.pdf

• CoinTracker: Stablecoin showdown: USDC vs. USDT – https://www.cointracker.io/blog/usdc-vs-usdt

• CEX.IO Blog: Stablecoin Landscape: What 2024 Reveals About 2025? – https://blog.cex.io/ecosystem/stablecoin-landscape-34864

• Finimize: Stablecoin Adoption Grows Mid-2025 (Finimize) – https://finimize.com/content/stablecoins-arent-just-for-crypto-bros-anymore

• Reuters: Stablecoins' market cap surges to record high as US senate passes bill – https://www.reuters.com/business/finance/stablecoins-market-cap-surges-record-high-us-senate-passes-bill-2025-06-18/

• Coinpaper: Real User Participation in Stablecoin Transactions Less Than 10% – https://coinpaper.com/4128/real-user-participation-in-stablecoin-transactions-less-than-10

• Hedera: What is a Stablecoin? – https://hedera.com/learning/tokens/what-is-a-stablecoin

• Chainalysis: Stablecoins 101: Behind crypto's most popular asset – https://www.chainalysis.com/blog/stablecoins-most-popular-asset/

• Finextra: Banks and Stablecoins: a first step towards bridging traditional finance and the crypto world – https://www.finextra.com/blogposting/28798/banks-and-stablecoins-a-first-step-towards-bridging-traditional-finance-and-the-crypto-world

• Fintech Takes: How to Think About Stablecoins – https://fintechtakes.com/articles/2025-01-10/how-to-think-about-stablecoins/

• S&P Global: Stablecoins: A Deep Dive into Valuation and Depegging – https://www.spglobal.com/content/dam/spglobal/corporate/en/images/general/special-editorial/rl_stablecoins.pdf

• EconoFact: The Rise of Stablecoins and How to Regulate Them – https://econofact.org/the-rise-of-stablecoins-and-how-to-regulate-them

• Arnold & Porter: An Introduction to Stablecoins – https://www.arnoldporter.com/en/perspectives/advisories/2025/05/an-introduction-to-stablecoins

• Warwick Business School: How do we keep stablecoins stable? – https://www.wbs.ac.uk/news/how-do-we-keep-stablecoins-stable/

• Anthony Lee Zhang: Stablecoin Runs and the Centralization of Arbitrage – https://anthonyleezhang.github.io/pdfs/stablecoin.pdf

• SCIRP: Overcoming the Stablecoin Trilemma – https://www.scirp.org/journal/paperinformation?paperid=137781

• Elliott Davis: Stablecoins: Fiat-backed vs Crypto Collateralized vs Algorithmic – https://www.elliottdavis.com/insights/stablecoins-fiat-backed-vs-crypto-collateralized-vs-algorithmic

• UBS: What do I need to know about stablecoins? – https://www.ubs.com/us/en/wealth-management/insights/article.1886983.html

• Kaiko Research: Stablecoin Adoption Amid New Rules – https://research.kaiko.com/insights/stablecoin-adoption-amid-new-rules

• European Central Bank: Stablecoins' role in crypto and beyond: functions, risks and policy – https://www.ecb.europa.eu/press/financial-stability-publications/macroprudential-bulletin/html/ecb.mpbu202207_2~836f682ed7.en.html

• CryptoSlate: Stablecoins surpass Visa and Mastercard with $27.6 trillion transfer volume in 2024 – https://cryptoslate.com/stablecoins-surpass-visa-and-mastercard-with-27-6-trillion-transfer-volume-in-2024/

• Yellow Research: USDT, USDC, and Beyond: Stablecoin Adoption and Regulation Across the Globe in 2025 – https://yellow.com/research/usdt-usdc-and-beyond-stablecoin-adoption-and-regulation-across-the-globe-in-2025

• Finextra: The Stablecoin Revolution in Remittances – https://www.finextra.com/blogposting/28886/the-stablecoin-revolution-in-remittances

• Transfi: Business Use Cases for Stablecoins: From Remittances to Treasury – https://www.transfi.com/blog/business-use-cases-for-stablecoins-from-remittances-to-treasury

• Coinbase: Stablecoins and the New Payments Landscape – https://www.coinbase.com/institutional/research-insights/research/market-intelligence/stablecoins-new-payments-landscape

• Coinlaw: Stablecoin Statistics 2025: Growth, Adoption, and Regulation – https://coinlaw.io/stablecoin-statistics/

• Fireblocks: State of Stablecoins 2025 – https://www.fireblocks.com/report/state-of-stablecoins/

• Fireblocks: Stablecoin Infrastructure: Five Imperatives for Scalable Adoption – https://www.fireblocks.com/blog/stablecoin-infrastructure-five-imperatives-for-scalable-adoption/

• RealClearMarkets: Stablecoin Payment Systems Could Save Families $40 Billion Annually – https://www.realclearmarkets.com/articles/2024/02/21/stablecoin_payment_systems_could_save_families_40_billion_annually_1013150.html

• FinchTrade: How Stablecoins Are Transforming On-Ramps and Off-Ramps for Payment Processors – https://finchtrade.com/blog/how-stablecoins-are-transforming-on-ramps-and-off-ramps-for-payment-processors

• Fipto: The Stablecoin Sandwich: A Smarter Way to Handle Cross-Border Payments – https://www.fipto.com/articles/the-stablecoin-sandwich-a-smarter-way-to-handle-cross-border-payments

• FlexBlok: Stablecoins in Supply Chain Finance: The Future of Global Trade – https://flexblok.io/blog/stablecoins-supply-chain-finance/

• Finance Magnates: Are Stablecoins Accelerating Dollarization? – https://www.financemagnates.com/forex/are-stablecoins-accelerating-dollarization/

• TRM Labs: Banking on Stablecoins: A Risk Mitigation Blueprint for Financial Institutions – https://www.trmlabs.com/resources/blog/banking-on-stablecoins-a-risk-mitigation-blueprint-for-financial-institutions

• Chainalysis: Security Risks of Stablecoins – https://www.chainalysis.com/blog/stablecoin-security-risks/

• CryptoProcessing.com: Crypto tax rules for stablecoins: what businesses must know – https://cryptoprocessing.com/insights/stablecoin-taxation-for-businesses

• CoinGecko: State of Stablecoins: 2024 – https://assets.coingecko.com/reports/2024/CoinGecko-State-of-Stablecoins-2024.pdf

• McKinsey & Company: Stablecoins: Payments infrastructure for modern finance - https://www.mckinsey.com/industries/financial-services/our-insights/the-stable-door-opens-how-tokenized-cash-enables-next-gen-payments

• International Monetary Fund: How to Estimate International Stablecoin Flows - https://www.imf.org/-/media/Files/Publications/WP/2025/English/wpiea2025141-source-pdf.ashx

• Keyrock: Stablecoin Payments: The Trillion Dollar Opportunity - https://documents.keyrock.com/hubfs/Stablecoin-Payments-The-Trillion-Dollar-Opportunity.pdf

• Liu, Makarov, Schoar: Anatomy of a Run: The Terra Luna Crash - https://finance.unibocconi.eu/sites/default/files/files/media/attachments/terralunacrash_april202320230516135124.pdf

• Swiss National Bank (Kurovskiy & Rostova): How algorithmic stablecoins fail - https://www.snb.ch/dam/jcr:5140cb30-3c8c-433d-8619-0354b8f1036e/sem_2023_05_26_rostova.n.pdf

• Fireblocks: State of Stablecoins 2025: The Payments Infrastructure Reset - https://www.fireblocks.com/blog/state-of-stablecoins-2025-payments-infrastructure-reset/

• Boston Consulting Group: Stablecoins: Five Killer Tests to Gauge Their Potential - https://media-publications.bcg.com/Stablecoins-five-killer-tests-to-gauge-their-potential.pdf

• FXC Intelligence: The state of stablecoins in cross-border payments: 2025 - https://www.fxcintel.com/research/reports/ct-state-of-stablecoins-cross-border-payments-2025

Specific Stablecoins

• Blockchain.News: Tether USDt Surpasses $154 Billion Market Cap – https://blockchain.news/flashnews/tether-usdt-surpasses-154-billion-market-cap-key-trading-insights-and-crypto-impact

• Cointelegraph: Tether clocks $13B in 2024 profits, US bond holdings hit all-time highs – https://cointelegraph.com/news/tether-13-billion-2024-profits-t-bill-holdings-all-time-highs

• ByteBridge (Medium): Tether (USDT) Analysis Report – https://bytebridge.medium.com/tether-usdt-analysis-report-5787320615f9

• MacroMicro: World - Tether USDT Reserve Asset Composition – https://en.macromicro.me/charts/134290/world-usdt-reserve-asset-composition

• PYMNTS: Peeking Under the USDT Hood: Tether Releases Partial Audit Amid Growing Scrutiny – https://www.pymnts.com/cryptocurrency/2025/usdt-tether-releases-partial-audit-amid-growing-scrutiny/

• Morningstar: USDC Stablecoin Issuer Circle Sets IPO Terms That Could Push Market Cap Above $5.7 Billion – https://www.morningstar.com/news/dow-jones/202505274511/usdc-stablecoin-issuer-circle-sets-ipo-terms-that-could-push-market-cap-above-57-billion

• CryptoNews.net: USDC Minted: A Massive 250 Million Sparks Market Interest – https://cryptonews.net/news/altcoins/31510668/

• Yahoo Finance: USDC Circulation Soars 78% in 2024 – https://finance.yahoo.com/news/usdc-circulation-soars-78-2024-075520654.html

• Circle: State of the USDC Economy 2025 – https://www.circle.com/reports/state-of-the-usdc-economy

• Circle: Transparency & stability – https://www.circle.com/transparency

• Kraken: What is Dai? (DAI) – https://www.kraken.com/learn/what-is-dai

• Bitget Web3 Academy: USDC vs USDT: What's the Difference? Investor's Guide for 2025 – https://web3.bitget.com/en/academy/usdc-vs-usdt-what-is-the-difference-investor-guide-for-2025

• Coinlaw: USD Coin vs. Tether Statistics 2025: Market Trends, Compliance – https://coinlaw.io/usd-coin-vs-tether-statistics/

• Coinlaw: Bitcoin vs. Tether Statistics 2025: Trading Volume, Adoption, etc. – https://coinlaw.io/bitcoin-vs-tether-statistics/

• OSL Academy: From Underdog to DeFi Darling: How USDC is Winning with Compliance – https://www.osl.com/hk-en/academy/article/from-underdog-to-defi-darling-how-usdc-is-winning-with-compliance

• WithTap: What is EURT | What is Euro Tether - https://www.withtap.com/blog/what-is-eurt

• Reuters: Circle's IPO and the new era of stablecoin regulation in U.S. - https://www.reuters.com/legal/legalindustry/circles-ipo-new-era-stablecoin-regulation-us-2025-06-12/

• CoinDesk: Crypto Exchanges Bitstamp and Crypto.com Suspend Tether Services in Europe Due to MiCA - https://www.coindesk.com/policy/2025/01/29/crypto-com-will-suspend-tether-paypal-stablecoin-services-in-europe-due-to-mica

• MakerDAO: The Maker Protocol White Paper - https://makerdao.com/en/whitepaper/

Stablecoin Depegs & Crises

• Elliptic: What happened to the $3.5 billion Terra Reserve? – https://www.elliptic.co/blog/what-happened-to-the-3.5-billion-terra-reserve-elliptic-follows-the-bitcoins

• Reuters: TerraUSD crash explained – Reuters – https://www.reuters.com/markets/us/bitcoin-back-below-30000-european-regulators-renew-crypto-warnings-2022-05-16/

• OKX Learn: The Rise and Fall of Terra: How a $60 Billion Crypto Ecosystem Crumbled – https://www.okx.com/learn/terra-collapse-ust-luna-stablecoin

• CNBC: Stablecoin USDC breaks dollar peg after firm reveals it has $3.3 billion in SVB exposure – https://www.cnbc.com/2023/03/11/stablecoin-usdc-breaks-dollar-peg-after-firm-reveals-it-has-3point3-billion-in-svb-exposure.html

• CoinDesk: USDC Stablecoin Regains Dollar Peg After Silicon Valley Bank-Induced Chaos – https://www.coindesk.com/business/2023/03/13/usdc-stablecoin-regains-dollar-peg-after-silicon-valley-bank-induced-chaos

• Reuters: Circle assures market after stablecoin USDC breaks dollar peg – https://www.reuters.com/business/crypto-firm-circle-reveals-33-bln-exposure-silicon-valley-bank-2023-03-11/

• CNBC: USDC nearly regains $1 peg after Circle says SVB deposit is available – https://www.cnbc.com/2023/03/13/usdc-nearly-regains-1-peg-after-circle-says-svb-deposit-is-available.html

• Protos: Moody's reports 600 stablecoin depegs in 2023 – https://protos.com/moodys-reports-600-stablecoin-depegs-in-2023/

• Cybrid Blog: Explaining the 2023 USDC Depeg – https://blog.cybrid.xyz/2023-usdc-depeg-explained

• GlobalEdge/MSU: Effects of the Silicon Valley Bank Collapse – https://globaledge.msu.edu/blog/post/57251/effects-of-the-silicon-valley-bank-colla

Payment Systems & Infrastructure

• Square: History of Money and Payments – https://squareup.com/us/en/townsquare/history-of-money-and-payments

• Argoz Consultants: The Evolution of Payment Systems – https://argozconsultants.com/blog/the-evolution-of-payment-systems/

• GO-Globe: Mobile Payment in China – Statistics and Trends – https://www.go-globe.com/mobile-payment-in-china-statistics-and-trends-infographic/

• Business Standard: UPI clocks new record in value and volume in March after dip in Feb – https://www.business-standard.com/finance/news/upi-value-hits-record-rs-24-77-trillion-in-march-marks-new-high-in-fy25-125040100744_1.html

• Forbes: M-PESA: Why The World's First Large Mobile Payment Platform Keeps On Winning – https://www.forbes.com/sites/christianstadler/2024/06/11/m-pesa-why-the-worlds-first-large-mobile-payment-platform-keeps-on-winning/

• Nocash.ro: M-PESA, the famous mobile money system in Kenya, turned 18 – https://nocash.ro/m-pesa-the-famous-mobile-money-system-in-kenya-turned-18/

• World Bank: Mobile Payments go Viral: M‐PESA in Kenya – https://documents1.worldbank.org/curated/en/638851468048259219/pdf/543380WP0M1PES1BOX0349405B01PUBLIC1.pdf

• PaymentsCMI: Pix in Brazil: What to Expect in 2025 and beyond – https://paymentscmi.com/insights/pix-in-brazil-latest-statistics-central-bank/

• ConduitPay: Ultimate Guide to PIX – https://conduitpay.com/guides/ultimate-guide-to-pix

• Federal Reserve: FedNow Service – https://www.federalreserve.gov/paymentsystems/fednow_about.htm

• Thunes: Digital Payments Revolution: Emerging Markets Leading Change – https://www.thunes.com/insights/solutions/why-emerging-markets-are-the-next-frontier-for-digital-payments-the-stablecoin-revolution/

• McKinsey: Mobile wallets: Southeast Asia's new digital life hack – https://www.mckinsey.com/industries/financial-services/our-insights/mobile-wallets-southeast-asias-new-digital-life-hack

• IBEF: Mobile Wallet Payments in India: The Shift from Cash to Digital – https://www.ibef.org/blogs/from-cash-to-clicks-the-surging-trend-of-mobile-wallet-payments-in-india

• Brookings: Smartphones for the Unbanked – https://www.brookings.edu/articles/smartphones-for-the-unbanked-how-mobile-money-will-drive-digital-inclusion-in-developing-countries/

• EFInA: High cost of financial services – https://efina.org.ng/wp-content/uploads/2024/05/High-Cost-of-Financial-services.pdf

Central Bank Digital Currency

• Binance: Global surge in CBDC development: 134 countries now exploring digital currencies – https://www.binance.com/en/square/post/13737138062802

• Statista: Central Bank Digital Currency: The Future of Money? – https://www.statista.com/chart/30296/number-of-countries-currency-unions-with-central-bank-digital-currencies-in-advanced-exploration-phases/

• African Business: Nigeria launches eNaira – Africa's first digital currency – https://african.business/2021/10/finance-services/nigeria-gears-up-for-enaira

• TradingView/Finbold: Nigeria's CBDC project fails to pick up as only 0.5% of residents use eNaira – https://www.tradingview.com/news/finbold:7f93c2236:0-nigeria-s-cbdc-project-fails-to-pick-up-as-only-0-5-of-residents-use-enaira/

• AINVEST: The Digital Yuan's Rise – https://www.ainvest.com/news/digital-yuan-rise-navigating-strategic-investments-multipolar-currency-landscape-2506/

• Ledger Insights: ECB issues digital euro vendor call for up to €1.1 billion in contracts – https://www.ledgerinsights.com/ecb-digital-euro-contract-vendor-1-1-billion/

• Atlantic Council: Central Bank Digital Currency Tracker – https://www.atlanticcouncil.org/cbdctracker/

• IMF eLibrary: Central Bank Digital Currency: Progress And Further Considerations – https://www.elibrary.imf.org/view/journals/007/2024/052/article-A001-en.xml

• People's Bank of China: China's Ban on Cryptocurrencies - http://www.pbc.gov.cn/en/3688110/3688172/4157443/4293696/index.html

Institutional & Corporate

• Coinspeaker: JPMorgan's JPM Coin Achieves $1B Daily Transaction Milestone – https://www.coinspeaker.com/jpmorgan-jpm-coin-1b-daily/

• Ledger Insights: JP Morgan to launch JPMD deposit token on Base public blockchain – https://www.ledgerinsights.com/jp-morgan-to-launch-jpmd-deposit-token-on-public-blockchain-base/

• Bloomberg: JPMorgan to Offer Instant USD-EUR Settlement via Blockchain – https://www.bloomberg.com/news/articles/2024-11-06/jpmorgan-jpm-coin-to-offer-instant-dollar-euro-blockchain-trades

• PaymentsDive: Citi launches token service for institutional clients – https://www.paymentsdive.com/news/citi-token-services-launch-commercial-blockchain-technology-cross-border-instant-payments/694108/

• The Block: BlackRock's BUIDL first to cross $1 billion mark – https://www.theblock.co/post/346237/blackrocks-buidl-first-to-cross-1-billion-mark-making-it-the-largest-tokenized-fund-tracking-onchain-treasuries

• Fintech Futures: Visa expands stablecoin settlement pilots – https://www.fintechfutures.com/cross-border-payments/visa-expands-stablecoin-settlement-pilots-in-push-to-modernise-cross-border-payments

• Ledger Insights: Mastercard joins Global Dollar Network for stablecoins – https://www.ledgerinsights.com/mastercard-joins-global-dollar-network-for-stablecoins-enables-minting/

• Blockworks: Stripe reintegrates crypto payments in the US – https://blockworks.co/news/stripe-reintegrates-crypto-payments-in-the-us

• Yahoo Finance: Mastercard, JPMorgan collaborate on cross-border B2B payments – https://finance.yahoo.com/news/mastercard-jpmorgan-collaborate-cross-border-115736005.html

• FF News: Kinexys by J.P. Morgan Flourishes in the MENA Region – https://ffnews.com/newsarticle/kinexys-by-j-p-morgan-flourishes-in-the-mena-region/

• Visa: Visa's Role in Stablecoins – https://corporate.visa.com/en/sites/visa-perspectives/innovation/visas-role-in-stablecoins.html

• Mastercard: Mastercard expands partnership with Circle – https://www.mastercard.com/news/eemea/en/newsroom/press-releases/en/2025-1/august/mastercard-expands-partnership-with-circle-to-transform-digital-settlement-for-merchants-and-acquirers-in-region/

• Fintech Times: Thunes Business Payments Launched to Grow $150 Trillion B2B Payments Market – https://thefintechtimes.com/thunes-business-payments-launched-to-grow-150trillion-b2b-payments-market/

• CryptoRank: Blockchain Adoption Hits 60% of Fortune 500 – https://cryptorank.io/news/feed/0f2c4-blockchain-fortune-500-60-percent-smb-stablecoin-demand

• GlobeNewswire: Davis Commodities Explores Tokenized Agricultural Trade – https://www.globenewswire.com/news-release/2025/07/11/3114081/0/en/Davis-Commodities-Explores-Tokenized-Agricultural-Trade-as-U-S-Stablecoin-Framework-Advances.html

• Deel: Fund Payroll in USDC – https://www.deel.com/blog/fund-payroll-in-usdc/

• CoinDesk: Lloyd's-Backed Insurance Policies Can Now Be Paid in Crypto – https://www.coindesk.com/business/2024/07/31/lloyds-of-london-backed-insurance-policies-can-now-be-paid-for-in-crypto-on-ethereum

• Visa: Visa Expands Stablecoin Settlement Support - https://investor.visa.com/news/news-details/2025/Visa-Expands-Stablecoin-Settlement-Support/default.aspx

Regional Adoption

• CoinDesk: India and Nigeria Lead the World in Crypto Adoption Again – https://www.coindesk.com/policy/2024/09/11/india-and-nigeria-lead-the-world-in-crypto-adoption-again-but-indonesia-is-fastest-growing-chainalysis

• Cointelegraph: Argentina overtakes Brazil in crypto inflows – https://cointelegraph.com/news/argentina-leads-latin-america-crypto-inflows

• Cointelegraph: Venezuela's crypto adoption surges amid inflation – https://cointelegraph.com/news/venezuela-crypto-adoption-bolivar-inflation-2025

• Invest Indonesia: Indonesia's Crypto Currency Market Surges – https://investindonesia.co.id/2024/11/30/indonesias-crypto-currency-market-surges/

• Binance Square: Nigeria Trades $59B in Crypto Despite Ban – https://www.binance.com/en/square/post/21695452790154

• CoinGeek: South Africa issued 248 VASP licenses – https://coingeek.com/south-africa-issued-248-vasp-licenses-as-adoption-soared-in-2024/

• Chainalysis Blog: North America: Institutional Momentum and U.S. Bitcoin ETPs – https://www.chainalysis.com/blog/north-america-crypto-adoption-2024/

• Chainalysis Blog: Latin America: Venezuela and Argentina Stand Out – https://www.chainalysis.com/blog/latin-america-cryptocurrency-adoption/

• Chainalysis Blog: Sub-Saharan Africa: Nigeria Takes #2 Spot in Global Adoption – https://www.chainalysis.com/blog/subsaharan-africa-crypto-adoption-2024/

• CIO Africa: Africa And Emerging Markets Lead Global Stablecoin Adoption – https://cioafrica.co/africa-and-emerging-markets-lead-global-stablecoin-adoption/

• Chainalysis Blog: Central & Southern Asia and Oceania's Most Dynamic Crypto Markets – https://www.chainalysis.com/blog/central-southern-asia-crypto-adoption-2024/

• Chainalysis Blog: Stablecoins dominate market share in Central, Northern, & Western Europe – https://www.chainalysis.com/blog/2024-western-europe-crypto-adoption/

• Chainalysis Blog: 2024 LATAM Crypto Adoption: The Rise of Stablecoins – https://www.chainalysis.com/blog/2024-latin-america-crypto-adoption/

• Lexikon: The 2024 Geography of Crypto Report – https://admin.lexikon.com.mx/archivos/The_2024_geography_of_crypto_report_1729164229.pdf

• Chainalysis Blog: Latin America's Search for Economic Stability – https://www.chainalysis.com/blog/2024-latin-america-crypto-adoption/

• BusinessDay: Nigeria tops global stablecoin adoption – https://businessday.ng/technology/article/nigeria-tops-global-stablecoin-adoption-as-africas-digital-asset-booms/

• Kaiko Research: Turkey's Crypto Market – https://research.kaiko.com/insights/whats-behind-turkeys-booming-crypto-market

• Coinomist: Crypto in Buenos Aires – https://coinomist.com/lifestyle/crypto-buenos-aires-how-stablecoins-changing-lives-in-argentina/

• University of Michigan Journal of Economics: Argentina's Embrace of Stablecoins for Economic Stability – https://sites.lsa.umich.edu/mje/2025/01/08/peso-preservation-argentinas-embrace-of-stablecoins-for-economic-stability/

Country-Specific Payment Solutions

• Transfi: Stablecoin Payments in the Philippines - https://www.transfi.com/blog/stablecoin-payments-in-the-philippines-redefining-remittances-and-online-work-payments

• Transfi: Stablecoin Payments in Nigeria: Powering Crypto Commerce - https://www.transfi.com/blog/stablecoin-payments-in-nigeria-powering-crypto-commerce-in-africas-largest-economy

• Transfi: Stablecoin Payments in Estonia: Web3 Startups - https://www.transfi.com/blog/stablecoin-payments-in-estonia-web3-startups-dao-payroll-and-borderless-payments

• Tranglo: The State of Digital Currency and Remittance in the Philippines - https://www.tranglo.com/blog/the-state-of-digital-currency-and-remittance-in-the-philippines/

• CoinDesk: Philippines Central Bank Gives Approval to Coins.ph to Pilot Stablecoin - https://www.coindesk.com/policy/2024/05/14/philippines-central-bank-gives-approval-to-coinsph-to-pilot-stablecoin-in-key-remittance-market

• Mariblock: Naira-Pegged Stablecoin cNGN Launches - https://www.mariblock.com/naira-pegged-stablecoin-cngn-launches-lists-on-exchanges/

Remittances

• The Chronicle: Coins.ph helps remittance industry through blockchain - https://thechronicle.com.ph/coins-ph-revolutionizes-remittance-iindustry-through-blockchain-and-stablecoins/

• CoinDesk: Western Union Integrates With Crypto Wallet to Expand Philippines Remittances - https://www.coindesk.com/markets/2019/04/08/western-union-integrates-with-crypto-wallet-to-expand-philippines-remittances

• World Bank: In 2024, remittance flows to low- and middle-income countries expected to reach $685 billion - https://blogs.worldbank.org/en/peoplemove/in-2024--remittance-flows-to-low--and-middle-income-countries-ar

• World Bank: Remittance Prices Worldwide Quarterly - https://remittanceprices.worldbank.org/sites/default/files/rpw_main_report_and_annex_q324.pdf

• FintechNews Philippines: Philippines OFW Remittances Hit Record USD 38.34 Billion - https://fintechnews.ph/65862/remittance/philippines-ofw-remittances-hit-record-usd-38-34-billion/

• PNA: Remittances from overseas Filipinos hit all-time high in 2024 - https://www.pna.gov.ph/articles/1244195

• PhilStar: Charges for Philippine remittances near SDG targets - https://www.philstar.com/business/2024/10/02/2389603/charges-philippine-remittances-near-sdg-targets-world-bank-data

• FXCintel: Money transfers in Southeast Asia: Key trends and challenges - https://www.fxcintel.com/research/reports/money-transfers-in-southeast-asia-key-players-trends-and-the-challenges-ahead

• Mexico Business News: Mexico's 2024 Remittances at Record Risk from Trump Policies - https://mexicobusiness.news/finance/news/mexicos-2024-remittances-record-risk-trump-policies

• Stellar: Felix Pago & Bitso Case Study - https://stellar.org/case-studies/felix-bitso

• Finextra: Félix Raises $75 M; Processed $1 B+ in 2024 - https://www.finextra.com/newsarticle/45791/flix-raises-75-million-for-whatsapp-based-stablecoin-remittance-platform

• Barrons: U.S. Remittances to Latin America Hit $160.9 B - https://www.barrons.com/articles/tax-immigrant-remittance-trump-8cb31e49

• Lightspark: MoneyGram Has 380 000+ Agent Locations - https://www.lightspark.com/knowledge/moneygram-vs-paypal

• Mordor Intelligence: Remittance Market Size & Share Analysis - https://www.mordorintelligence.com/industry-reports/remittance-market

Regulations & Compliance

• Reuters: US Senate passes stablecoin bill in milestone for crypto industry - https://www.reuters.com/sustainability/boards-policy-regulation/us-senate-passes-stablecoin-bill-milestone-crypto-industry-2025-06-17/

• Troutman: The GENIUS Act: What Is It and What's Next? - https://www.troutman.com/insights/the-genius-act-what-is-it-and-whats-next.html

• Cointelegraph: How to read a stablecoin attestation report and why it matters - https://cointelegraph.com/news/how-to-read-a-stablecoin-attestation-report

• KLRD: Stablecoin Overview - https://klrd.gov/2024/11/15/stablecoin-overview/

• AMLWatcher: MiCA Regulation: How the EU is Shaping the Future of Crypto Asset Compliance - https://amlwatcher.com/blog/mica-regulation-how-the-eu-is-shaping-the-future-of-crypto-asset-compliance/

• EU: EU Markets in Crypto-Assets Regulation (MiCA) - https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=legissum:4626998

• Archip: Swiss crypto regulatory landscape - https://www.archip.ch/en/knowledge-center/article/swiss-regulatory-landscape

• Gate: Overview of India's Cryptocurrency Policy in 2024 - https://www.gate.com/learn/articles/overview-of-india-s-cryptocurrency-policy-in-2024/5729

• Kapronasia: Asian regulators move to tighten grip on stablecoins - https://kapronasia.com/insight/blogs/blockchain-research/asian-regulators-move-to-tighten-grip-on-stablecoins-as-adoption-grows

• Sanction Scanner: Cryptocurrency Regulations in Türkiye - https://www.sanctionscanner.com/blog/cryptocurrency-regulations-in-turkiye-1167

• Coinpedia: Crypto Regulations In Turkey 2025 - https://coinpedia.org/cryptocurrency-regulation/crypto-regulations-in-turkey-in-2024/

• FintechNews Singapore: ASIA: Asia Moves to Regulate Stablecoins - https://fintechnews.sg/112102/blockchain/asia-moves-to-regulate-stablecoins-amid-growing-adoption-report/

• Ashurst: Singapore spearheads stablecoin regulation - https://www.ashurst.com/en/insights/singapore-spearheads-stablecoin-regulation-sff-2023/

• CoinDesk: Nigeria's Central Bank Fleshes Out New Rule Allowing Crypto Firms' Access - https://www.coindesk.com/policy/2024/01/04/nigerias-central-bank-fleshes-out-new-rule-allowing-crypto-firms-access-to-bank-accounts

• Sumsub: Argentina Crypto Compliance - https://sumsub.com/blog/argentina-crypto-compliance/

• Unlock Blockchain: Lebanon Needs Stablecoins to Modernize Its Financial System - https://www.unlock-bc.com/144966/lebanon-stablecoin-regulation/

• Reed Smith: New clarity in cryptocurrency law - https://www.reedsmith.com/en/perspectives/2024/11/new-clarity-cryptocurrency-law-cryptoassets-attract-distinct-property-right

• FASB: FASB ASU 2023-08 – Intangibles—Crypto Assets - https://www.fasb.org/page/PageContent?pageId=%2Fprojects%2Frecentlycompleted%2Faccounting-for-and-disclosure-of-crypto-assets.html

• European Central Bank: From hype to hazard: what stablecoins mean for Europe - https://www.ecb.europa.eu/press/blog/date/2025/html/ecb.blog20250728~e6cb3cf8b5.en.html

• European Securities and Markets Authority: Markets in Crypto-Assets Regulation (MiCA) - https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica

• Vixio: Japan Takes Lead In Stablecoin Regulation As Bill Passes Through Parliament - https://www.vixio.com/insights/pc-japan-takes-lead-stablecoin-regulation-bill-passes-through-parliament

• Reed Smith: Payment Services Act – a guide - https://www.reedsmith.com/en/perspectives/2020/01/payment-services-act--a-guide

• LinkedIn: New Rules for Cryptocurrency in India: RBI's 2025 Framework Explained - https://www.linkedin.com/pulse/new-rules-cryptocurrency-india-rbis-2025-framework-explained-kapoor-aoabc

• Cointelegraph: Turkey tightens crypto regulations with new rules for providers - https://cointelegraph.com/news/turkey-regulator-cmb-two-docs-crypto-regulation

• Davis Polk: China further tightens controls over crypto transactions - https://www.davispolk.com/insights/client-update/china-further-tightens-controls-over-crypto-transactions

• Financial Stability Board: Crypto-assets and Global 'Stablecoins' - https://www.fsb.org/work-of-the-fsb/financial-innovation-and-structural-change/crypto-assets-and-global-stablecoins/

• FATF: Recommendation 16 and the Travel Rule for Virtual Assets - https://www.fatf-gafi.org/en/publications/Fatfrecommendations/update-Recommendation-16-payment-transparency-june-2025.html

• BIS (CPMI-IOSCO): CPMI and IOSCO publish final guidance on stablecoin arrangements - https://www.bis.org/press/p220713.htm

• IOSCO: Policy Recommendations for Crypto and Digital Asset Markets - https://www.iosco.org/library/pubdocs/pdf/IOSCOPD747.pdf

• Elliptic: Mexico Country Guide - https://www.elliptic.co/country-guides/mexico

• African Business: 'Resistance is futile': Why Nigeria rolled back crypto restrictions - https://african.business/2024/01/finance-services/resistance-is-futile-why-nigeria-rolled-back-crypto-restrictions

• KPMG: The Travel Rule - Transfer of Crypto Assets in Germany and the EU - https://assets.kpmg.com/content/dam/kpmg/de/pdf/Themen/2024/05/kpmg-the-travel-rule-brochure.pdf

• Wyoming Division of Banking: Special Purpose Depository Institutions - https://wyomingbankingdivision.wyo.gov/banks-and-trust-companies/special-purpose-depository-institutions

• House Financial Services Committee: Clarity for Payment Stablecoins Act of 2023 (H.R. 4766) — Committee Report - https://www.govinfo.gov/content/pkg/CRPT-118hrpt492/pdf/CRPT-118hrpt492.pdf

• European Commission/EUR-Lex: Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA) - https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114

• AMF (France): MiCA timetable: stablecoin titles apply from 30 June 2024 - https://www.amf-france.org/en/news-publications/news/markets-crypto-assets-publication-mica-regulation

• Monetary Authority of Singapore (MAS): MAS Finalises Stablecoin Regulatory Framework - https://www.mas.gov.sg/news/media-releases/2023/mas-finalises-stablecoin-regulatory-framework

• Japan FSA: Regulatory Framework for Crypto-assets and Stablecoins - https://www.fsa.go.jp/inter/etc/20220914-2/02.pdf

• Hong Kong Monetary Authority (HKMA): HKMA announces stablecoin issuer sandbox participants - https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/07/20240718-4/

• South Korea Financial Services Commission (FSC): Detailed rules for the Act on the Protection of Virtual Asset Users (cold wallet 80% requirement) - https://www.fsc.go.kr/eng/pr010101/81698

• Central Bank of Brazil (BCB): Pix – Brazil's instant payments system - https://www.bcb.gov.br/en/financialstability/pix_en

• Central Bank of Nigeria (CBN): Guidelines on the Operation of Bank Accounts for Virtual Asset Service Providers (Dec 22, 2023) - https://www.cbn.gov.ng/out/2024/fprd/guidelines%20on%20operations%20of%20bank%20accounts%20for%20virtual%20asset%20providers.pdf

• Reserve Bank of India (RBI): Digital Rupee (e₹) – FAQs - https://www.rbi.org.in/commonman/English/scripts/FAQs.aspx?Id=3686

• European Banking Authority: Asset-referenced and e-money tokens (MiCA) - https://www.eba.europa.eu/regulation-and-policy/asset-referenced-and-e-money-tokens-mica

• Monetary Authority of Singapore: Singapore's central bank finalises regulatory approach to stablecoins - https://www.osborneclarke.com/insights/singapores-central-bank-finalises-regulatory-approach-stablecoins

• Korea Financial Services Commission: Act on the Protection of Virtual Asset Users - https://www.fsc.go.kr/eng/pr010101/80317

• Financial Action Task Force: Updated Guidance for a Risk-Based Approach to Virtual Assets and VASPs (Travel Rule/KYC overview) - https://notabene.id/post/a-summary-of-fatfs-updated-guidance-for-virtual-assets

• European Union: Transfer of Funds Regulation (TFR) for crypto-assets - https://vaf.global/wp-content/uploads/2023/09/Travel-Rule-EU.pdf

• Internal Revenue Service: Taxpayers need to report crypto, other digital asset transactions - https://www.irs.gov/newsroom/taxpayers-need-to-report-crypto-other-digital-asset-transactions-on-their-tax-return

• European Parliament Think Tank: Tax transparency rules for crypto-asset transactions (DAC8) - https://www.europarl.europa.eu/thinktank/en/document/EPRS_BRI(2023)739310

• European Banking Authority: EBA provides new rules for stablecoins (MiCA reserve and redemption safeguards overview) - https://www.ashurst.com/en/insights/eba-provides-new-rules-for-stablecoins/

• Monetary Authority of Singapore: MAS-regulated stablecoins: reserve asset requirements and redemption timelines - https://www.jdsupra.com/legalnews/mas-finalises-its-policy-position-on-4402465/

• MakerDAO: Emergency Shutdown (Global Settlement) documentation - https://www.ashurst.com/en/insights/eba-provides-new-rules-for-stablecoins/

• NYDFS: Virtual Currency Guidance: U.S. Dollar-Backed Stablecoins Issued by DFS-Regulated Entities - https://www.dfs.ny.gov/industry_guidance/industry_letters/il20220608_issuance_stablecoins

• DeFiLlama: Stablecoins and DeFi Dashboard (Yields/Markets) - https://defillama.com

• NMLS: NMLS Consumer Access - https://www.nmlsconsumeraccess.org/

• MAS: Financial Institutions Directory - https://eservices.mas.gov.sg/fid

• Circle: USDC Reserve Report (Attestation/Examination Reports) - https://6778953.fs1.hubspotusercontent-na1.net/hubfs/6778953/USDCAttestationReports/2025/2025%20USDC_Examination%20Report%20February%2025.pdf

• New York State Attorney General: Attorney General James Ends Bitfinex's Illegal Activities in New York and Tether's Misrepresentations - https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegal

• Harvard Law School Forum / Liu, Makarov, Schoar: Anatomy of a Run: The Terra Luna Crash - https://corpgov.law.harvard.edu/2023/05/22/anatomy-of-a-run-the-terra-luna-crash/

Blockchain & Transaction Costs

• CryptoRank: Onchain Bitcoin Fees in 2024 - https://cryptorank.io/news/feed/8db4a-onchain-bitcoin-fees-in-2024-a-closer-look-at-transaction-costs-and-delays

• SwissMoney: Crypto Transaction Fees: A Beginner Guide (2024) - https://swissmoney.com/cryptocurrency-transaction-fees

• Brale: Costs to send $1M on leading blockchains - https://brale.xyz/blog/costs-to-send-1m-on-leading-blockchains

• PayGlocal: SWIFT Transfer Fees and Charges Explained - https://payglocal.in/blog/swift-charges-explained

• Paystand: Guide to International Wire Transfers - https://www.paystand.com/blog/international-wire-transfer

• NerdWallet: Credit Card Processing Fees: A 2025 Guide for Businesses - https://www.nerdwallet.com/article/small-business/credit-card-processing-fees

• Statrys Tools: How Long Do SWIFT Transfers Take? - https://tools.statrys.com/blog/how-long-does-a-swift-transfer-take

• Polygon Technology: Upgrading Every EVM Chain to ZK - https://polygon.technology/blog/upgrade-every-evm-chain-to-zk-introducing-the-type-1-prover

• The Block: Average Transaction Fee on Ethereum Chart - https://www.theblock.co/post/195391/from-cryptopunks-to-redditors-and-a-trump-card-the-year-in-nft-charts

• Investopedia: Merchant Services: Settlement Time 24-48 Hours - https://www.investopedia.com/merchant-service-8624263

• Ledger Insights: Bain: Blockchain Can Reduce Trade-Finance Costs by 50% - https://www.ledgerinsights.com/bain-blockchain-reduce-trade-finance-costs/

• SWIFT: SWIFT Annual Review 2023 - https://www.swift.com/sites/default/files/files/swift-annual-review-2023.pdf

DeFi & Crypto Markets

• Presto Labs: DeFi Interest Rates: Challenges, Innovations, and the Path to Stability - https://www.prestolabs.io/research/defi-interest-rates-challenges-innovations-and-the-path-to-stability

• Cointelegraph: DeFi lending and borrowing, explained - https://cointelegraph.com/explained/defi-lending-and-borrowing-explained

• Coingecko: Top 10 Crypto Lending Protocols for 2025 - https://www.coingecko.com/learn/top-crypto-lending-protocols

• Grayscale Research: DEX Appeal: The Rise of Decentralized Exchanges - https://research.grayscale.com/reports/dex-appeal-the-rise-of-decentralized-exchanges

• Cointelegraph: DeFi proved resilient during the March 2020 and May 2021 - https://cointelegraph.com/news/defi-proved-resilient-during-the-march-2020-and-may-2021-market-crises

• Aave Analytics: Aave Analytics Dashboard - https://aavescan.com/

• Chainlink Blog: Reentrancy Attacks and The DAO Hack Explained - https://blog.chain.link/reentrancy-attacks-and-the-dao-hack/

Wallets & Security

• Kraken: Custodial vs non-custodial wallets: Who holds your crypto? - https://www.kraken.com/learn/custodial-non-custodial-crypto-wallet

• BitPay: Non-Custodial Wallets vs Custodial Wallets: Know the Difference - https://www.bitpay.com/blog/non-custodial-wallets-vs-custodial-wallets

• Ledger: What Are the Different Types of Crypto Wallets? - https://www.ledger.com/academy/topics/crypto/types-of-crypto-wallets

• Binance Academy: Seed Phrase - https://academy.binance.com/en/glossary/seed-phrase

• MetaMask: Getting Started - https://metamask.io/

• Coinbase: Coinbase Wallet - https://www.coinbase.com/wallet

• Trust Wallet Blog: The Official Beginner's Guide To Trust Wallet - https://trustwallet.com/blog/guides/the-official-beginners-guide-to-trust-wallet

• Ledger Store: Ledger Nano S Plus - https://shop.ledger.com/products/ledger-nano-s-plus

• Trezor: Trezor Safe 3 - https://trezor.io/trezor-safe-3

• MetaMask Support: Scammers and Phishers: Rugpulls and airdrop scams - https://support.metamask.io/stay-safe/safety-in-web3/scammers-and-phishers-rugpulls-and-airdrop-scams/

• MetaMask Support: What is a 'Secret Recovery Phrase' - https://support.metamask.io/start/what-is-a-secret-recovery-phrase-and-how-to-keep-your-crypto-wallet-secure

• Exodus Support: Everything you need to know about your 12-word secret recovery phrase - https://support.exodus.com/support/en/articles/8598627-everything-you-need-to-know-about-your-12-word-secret-recovery-phrase

• PMC/NLM: Security of Cryptocurrencies: A View on the State-of-the-Art - https://pmc.ncbi.nlm.nih.gov/articles/PMC10051655/

• CSIRO: Hot and Cold Wallet Storage – Blockchain Patterns - https://research.csiro.au/blockchainpatterns/general-patterns/self-sovereign-identity-patterns/hot-and-cold-wallet-storage/

• Vault12: 2FA for Crypto: Enhance Security with Two-Factor Authentication - https://vault12.com/learn/crypto-security-basics/2fa-crypto/

• St. Cloud State Repository: Evaluating Security in Cryptocurrency Wallets - https://repository.stcloudstate.edu/msia_etds/115/

• Ledger: Why Secure Elements make a crucial difference to Hardware Wallet Security - https://www.ledger.com/th/why-secure-elements-make-a-crucial-difference-to-hardware-wallet-security

• BlackHat: Software attacks on hardware wallets - https://i.blackhat.com/us-18/Wed-August-8/us-18-Volokitin-Software-Attacks-On-Hardware-Wallets-wp.pdf

• Unit42 Palo Alto Networks: Investigating Scam Crypto Investment Platforms Using Pyramid - https://unit42.paloaltonetworks.com/fraud-crypto-platforms-campaign/

• IJHSSM: A Study on the Scams of Cryptocurrency - https://ijhssm.org/issue_dcp/A%20Study%20on%20the%20Scams%20of%20Cryptocurrency.pdf

On/Off Ramps & Trading

• Solicy: What are On-ramp and off-ramp Transactions? - https://solicy.net/insights/crypto-on-ramp-vs-off-ramp-transactions

• MetaMask Support: How to buy crypto in MetaMask - https://support.metamask.io/metamask-portfolio/buy/

• LocalCoinSwap: P2P Trading Guide - https://localcoinswap.com/learn/p2p-trading-guides

• Paxful University: P2P Trading Explained - https://paxful.com/university/paxful-vs-binance-p2p

• Sanction Scanner: What is KYC in Crypto? The Complete Guide - https://www.sanctionscanner.com/blog/kyc-in-crypto-the-complete-guide-1143

• Simple: Crypto Debit Cards: Spending Digital Assets in the Real World - https://simple.app/blog/crypto-debit-cards/

• Messari Research: Flexa: You Can Have Your Crypto and Spend It Too - https://messari.io/report/flexa-you-can-have-your-crypto-and-spend-it-too

• Apple App Store: Strike - Bitcoin - https://apps.apple.com/us/app/strike-bitcoin/id1488724463

Economic & Market Analysis

• Statista: The Varying Volatility of Cryptocurrencies - https://www.statista.com/chart/27577/cryptocurrency-volatility-dmo/

• CryptoPotato: Bitcoin is Too Volatile, Impractical, and Fails as a Store of Value - https://cryptopotato.com/bitcoin-is-too-volatile-impractical-and-fails-as-a-store-of-value-bank-of-america/

• Lemon: State of the Crypto Industry 2024 - https://www.lemon.me/cryptoreport2024.pdf

• Crypto.News: From the margins to the mainstream: The new capital frontier - https://crypto.news/the-new-capital-frontier-is-not-what-you-think-it-is

• Zeebu Blog: Zeebu's Scalability-Focused Approach Drives Settlement Volume to Record $5 Billion - https://www.zeebu.com/blog/zeebu-crosses-5-billion-in-settlement-volume

• BVNK & CEBR: The Decade of Digital Dollars - https://www.bvnk.com/report/decade-of-digital-dollars

• PwC: PwC Finance Effectiveness Benchmark Report 2017 - https://www.pwc.com/il/en/consulting/assets/finance-effectiveness-benchmark-report-july-2017.pdf

• Juniper/Fintech Futures: Juniper Research: B2B Cross-border Payment Transaction Values - https://www.fintechfutures.com/press-releases/juniper-research-b2b-cross-border-payment-transaction-values-to-exceed-42-trillion-in-2026-as-ecommerce-marketplace-growth-stimulates-trade

• CoinDesk: Crypto for Advisors: The Growth of Stablecoins - https://www.coindesk.com/coindesk-indices/2025/01/22/crypto-for-advisors-the-growth-of-stablecoins

Specific Economic Events

• Business Insider: Canada says it will freeze the bank accounts of 'Freedom Convoy' truckers - https://www.businessinsider.com/trudeau-canada-freeze-bank-accounts-freedom-convoy-truckers-2022-2

• BBC News: Turkish lira nose-dives 15% as president defies critics - https://www.bbc.com/news/business-59390250

• Bitcoin.com News: Turkey's Inflation Jumps to 36%, Lira's Value Plummets - https://news.bitcoin.com/turkeys-inflation-jumps-to-36-liras-value-plummets-citizens-flock-to-stablecoins/

• BVNK: Turkey's Currency Devaluation - https://www.bvnk.com/report/decade-of-digital-dollars

• BBC News: Shock in Cyprus as savers face bailout levy - https://www.bbc.com/news/world-europe-21814325

• Johns Hopkins Hub: What you need to know about SWIFT and economic sanctions - https://hub.jhu.edu/2022/03/02/understanding-swift-economic-sanctions/

• Trading Economics: Venezuela Inflation Rate - https://tradingeconomics.com/venezuela/inflation-cpi

• Focus Economics: Argentina Inflation Data - https://www.focus-economics.com/country-indicator/argentina/inflation/

• Afrobarometer: Nigerian Fuel Subsidy Impact - https://www.afrobarometer.org/publication/ad958-nigerians-say-country-is-headed-in-wrong-direction-oppose-fuel-subsidy-removal/

• GoldenNewsNG: Dollar to Naira Black Market Exchange Rate Today - https://goldennewsng.com/dollar-to-naira-black-market-exchange-rate-today-3rd-july-2025-abokifx/

• Bloomberg: Naira Plunged 55% in 2023 - https://www.bloomberg.com/news/articles/2023-12-29/ngn-usd-nigeria-s-naira-set-for-worst-year-since-1999-with-no-rebound-in-sight

• Techpoint Africa: Nigerians turn to stablecoins as inflation rises - https://techpoint.africa/2024/02/12/why-stablecoins-may-be-bad-for-nigeria/

• Reuters: Circle assures market after stablecoin USDC breaks dollar peg (March 2023) - https://www.reuters.com/business/crypto-firm-circle-reveals-33-bln-exposure-silicon-valley-bank-2023-03-11/

Other Topics

• World Bank: Financial Inclusion in Sub-Saharan Africa - https://www.worldbank.org/en/publication/globalfindex/brief/financial-inclusion-in-sub-saharan-africa-overview

• World Bank: Financial Inclusion on the Rise, But Gaps Remain - https://www.worldbank.org/en/news/press-release/2018/04/19/financial-inclusion-on-the-rise-but-gaps-remain-global-findex-database-shows

• Chainalysis: 2024 Latin America Crypto Adoption Report - https://www.chainalysis.com/blog/2024-latin-america-crypto-adoption/

• Chainalysis: 2024 Sub-Saharan Africa Crypto Adoption Report - https://www.chainalysis.com/blog/subsaharan-africa-crypto-adoption-2024/

• Digital Watch: TRON leads global stablecoin network - https://dig.watch/updates/tron-leads-global-stablecoin-network

• Forvis Mazars: Why Your Business Should Care About Stablecoins - https://www.forvismazars.us/forsights/2025/06/why-your-business-should-care-about-stablecoins

• Essential Designs: 10 Benefits of Smart Contracts for Business Automation - https://www.essentialdesigns.net/news/10-benefits-of-smart-contracts-for-business-automation

• Statista: U.S.: market share of banks by deposits 2024 - https://www.statista.com/statistics/727546/market-share-of-leading-banks-usa-domestic-deposits/

• NBER: Rising Bank Concentration - https://www.nber.org/system/files/working_papers/w26838/w26838.pdf

• MCP Insight: Market Intel: Nigeria - https://mcpinsight.com/mvas-market-intel-nigeria/

• Tempo.co: Indonesia Ranks 4th in Global Smartphone Usage - https://en.tempo.co/read/2023311/indonesia-ranks-4th-in-global-smartphone-usage

• Statista: Internet penetration in Southeast Asian countries - https://www.statista.com/statistics/487965/internet-penetration-in-southeast-asian-countries/

• Forbes: The FinTech Revolution: Is the ACH Network a Part of It? - https://www.forbes.com/sites/forbestechcouncil/2022/10/11/the-fintech-revolution-is-the-ach-network-a-part-of-it/

• BVNK Blog: Crypto Payments in Commodities - https://bvnk.com/blog/exploring-future-of-crypto-payments-forex-cfd

• Cointelegraph: Farmers are switching to stablecoins - https://cointelegraph.com/news/farmers-switching-to-stablecoins

• World Bank: The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19 - https://www.worldbank.org/en/publication/globalfindex

• US State Licensing System: Conference of State Bank Supervisors (CSBS) on Cross-border Recognition of Resolution Actions - https://www.fsb.org/uploads/Conference-of-State-Bank-Supervisors-CSBS-on-Cross-border-Recognition-of-Resolution-Actions.pdf

---

© 2025 Protokol Innovation Labs | Licensed under CC BY 4.0