Ethereum's Vitalik Buterin monitors one major Stablecoin use case

Vitalik ButerinEthereum (Eth) co-founder, has Share His thoughts on stubcoins as an asset class in the cryptocurrency space. Buterin dropped insights in response to a post highlighting Codex, a Stablecoin built on top of the Ethereum blockchain.

Vitalik Buterin Tag Stablecoins Crypto Utility Key Driver

According to Buterin, cheap Stablecoin transactions continue to be one of the major real-world value drivers in the crypto industry. He implies that stubcoins are useful for cross-border remittances and payments, which is crucial in the adoption of cryptocurrencies.

In particular, new users of the crypto space will need stubcoin to purchase a variety of cryptocurrencies, such as Ethereum, Bitcoin, XRP. This makes it a key link in the crypto recruitment chain, compared to, say, NFTs and meme coins.

Buterin expresses excitement about how Codex distinguishes itself among the other Layer 2 and is exclusively for Stablecoins.

“I'm excited to see @codex_pbc joining the arena as L2 and have a clear thought into the synergy with Ethereum L1 from day one,” he writes.

The co-founders of Ethereum highlight the fact that Codex decided to coordinate and create a mutually beneficial ecosystem rather than compete with Ethereum. With this development, Ethereum will help maintain control of global cryptocurrency.

This allows Ethereum to go ahead of Tron and other competitors as it aims to make payments cheaper around the world.

Stablecoin's $1.2 trillion market forecast

Vitalik Buterin's posts have gained traction, with some users agreeing that “cheap” is a major requirement, but privacy must be guaranteed. He noted that once these two requirements are implemented, mass adoption is inevitable.

Interestingly, the Stablecoin market is expanding rapidly, and Coinbase predicts that it can be done To reach $1.2 trillion By 2028, exchanges believe that growth will progressively and friendly support policy over time.