Unlike the usual crypto rollercoaster of value volatility, stablecoins bring an alleged dose of stability to the digital currency game, while at the same time being able to function as a store of value, a medium of exchange and a unit of account, PYMNTS wrote.The increasing embrace of blockchain within financial services and payments can be seen in the strong interest among traditional financial firms, with Bank of America holding over blockchain-related patents, and banking giants such as HSBC, Barclays, J.
P. Morgan Chase and UBS taking part in stablecoin-centric banking jiangxi mobile number database pilots.RecommendedTether Reportedly Made Billion In Profits in Consumers Use Credit to Plug Widening Gap Between Income and SpendingWhat Earnings Season Reveals About the BB Payments OpportunityTurning Screen Time Into Seamless, Personalized Shopping: The Future of in-Car CommerceSee More In: Blockchain, crypto, Cryptocurrency, digital assets, News, PYMNTS News, Stablecoin, stablecoins, Tether, USDt, Web, What's HotConsumers Use Credit to Plug Widening Gap Between Income and SpendingBy PYMNTS | January , | Only a few weeks into the current earnings season, and top-line momentum and commentary from firms, including banks and the payment networks, have all pointed to the resilience of the U.
S. consumer.But while they are indeed opening their wallets — both physically and digitally — there’s a gap that’s widening. Simply put, individuals and households are spending at a pace that is outstripping income.That gap is widening, and the gap’s being plugged, in part, by the use of credit.A Quickening of ConsumptionAs reported by the Bureau of Economic Analysis on Friday Jan.