Due to huge pressure on the stablecoin-based companies, the majority of the big players are trying to push the users to adopt traditional fiat to crypto buy methods.
The stable coin-based concept was first time officially introduced in the crypto industry by Bitfinex with its Tether (USDT) coin. In the very beginning, the stablecoin concept entered the crypto industry to provide the simplest option for Crypto users to trade crypto assets with “Digital Fiat currency”, which remains supported at every crypto exchange, without any boundaries.
In the present time, USDC, USDT, BUSD, UST, and many other stable coins are available, which are helpful for the users to transfer their funds at any exchange in a fully decentralized ecosystem of the crypto industry. However, these things are helping the crypto Investors a lot but are not enough to provide 100% satisfaction to the crypto users to remain safe with the stable coin use.
In recent years, the majority of the financial government agencies raised concerns over the operations of stablecoin issuer companies and hinted to bring a strict framework for them to ensure the safety of the funds of stable coin holders.
Few internal reports claimed that the majority of the stablecoin issuer companies are not reserving funds 100% behind their stablecoins and these things are creating a very big risk to the stable coin users.
Panic sell risk & preparation against risk
Current situations are creating fear among crypto users against stablecoin use. According to experts, if in any situation bad news will come against stablecoin company or companies then that will create a very big panic, and further, that will result in a crash in the price of stable coin.
To overcome such issues, many big companies decided to provide options for crypto users to go with the direct crypto purchases with fiat payments.
A recent example can be seen with Metamask, which introduced card payment options for the users to purchase Cryptocurrencies. For the same, Metamask established a partnership with Moonpay.
Earlier this, CoinbaseNFTs platform announced to introduce direct NFTs buy with fiat based card payments. And also Biggest NFTs trade platform OpenSea introduced card payment options, without the need of any crypto.