Visa's Head of Crypto, Cuy Sheffield, stated that the demand for stablecoins based on non-US dollar fiat currencies will grow in the coming years. While the US dollar is suitable for cross-border transactions, he highlighted the importance of fast and efficient local currency conversions, presenting a significant opportunity for other local currency stablecoins.

Sheffield predicted that every major fiat currency will have a representation on the blockchain in the future. He welcomed the emergence of more stablecoins seeking to differentiate themselves from USDT or USDC, calling it an "exciting" trend. He also emphasized that 2024 marked a turning point, with non-crypto companies beginning to experiment with stablecoins to address the challenges of paying overseas freelancers.