The number of different stablecoin tickers and token standards is fragmenting liquidity across the crypto ecosystem and burdening users with a poor experience that is costly, technical, and time-consuming, according to onchain sleuth ZachXBT.
Cross-chain bridging restrictions, gas and transaction fees that must be paid in the native token of the blockchain being used, and a lack of universal token support across exchanges are all obstacles users face in transferring stablecoins across the crypto ecosystem, ZachXBT said. He gave the following example:
“Imagine you receive USDPT to your Solana address but realize your wallet doesn’t have USDPT on the default token list. You also need gas, so you bridge ETH from Ethereum and wait several minutes, and want to swap USDPT for USD on a…more
Source cointelegraph.com
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