Farmers began to contact stablecoins more often

The agricultural industry plays an important role in the development of the global economy. In 2023, the European Union imported about 155 million tons of agricultural products, and it took 134 million tons for export. Nevertheless, ordinary farmers from time to time encounter problems. They need to export products abroad, interaction with foreign currencies. However, the financial system of a number of countries is not sufficiently developed. And this directly leads to serious financial costs during cross -border payments.

Large corporations cope with these problems, but this does not apply to small households. In such conditions, specialized specialists began to contact blockchain technologies more often, in particular, stable coins. This class of assets eliminates the need for intermediaries.

And also transactions are carried out quickly with minimal commissions. It is predicted that, for example, the African agriculture market in 2030 will be estimated at $ 1 million. And under such conditions, stable coins can become something more than the financial trend.

It is worth noting that cross -border payments are extremely important for the agricultural industry. If we talk about developing countries, then their banking system is not sufficiently developed. Often, the banking system charges from 3% to 6% during payment. And with large volumes, this forms very strong financial costs.

Also, demand in this segment for the dollar remains pronounced. And forms even larger financial losses. If you return, for example, Africa, then the country’s national currency demonstrates long -term weakness in relation to the dollar. In such conditions, a local small business is faced with huge costs when clearing transactions.

Author

Andrey Alexandrov