Ethereum Engineer Highlights Stablecoins as Inflation Hedge and Low-Cost Remittance Tool in Developing Countries

Ethereum Foundation engineer Vitto Rivabella said people in developed countries may struggle to see the need for blockchain because their bank cards and financial systems work reliably. In developing countries such as Nigeria, however, where inflation is high and cross-border remittance costs are elevated, U.S. dollar stablecoins have become an important tool for preserving purchasing power and making low-cost transfers.

The latest data show that global stablecoin transfer volume in 2024 surpassed the combined transaction volume of the Visa and Mastercard payment networks. Rivabella said this underscores that blockchain's practical value extends beyond speculative trading to inflation protection, cross-border payments and everyday money transfers in regions lacking reliable banking services.