However, few points to consider:
- Emerging market regulations can turn from funny to ugly to utterly ridiculous pretty fast. Problem is that most emerging markets see FIAT to stablecoin as a flight to capital and currency depreciation. Think about India, Brazil, SA, Pakistan or any other emerging market with dense population, you might see the same regulator mindset
- In any market, if this kind of pegging becomes freely available, than I am pretty sure that one currency to other in physical or digital way would also be very free flow. for example, in UAE, AEd to USD is super easy and takes 10 seconds on any banking app. So unless your goal is to trade, there is no reason to use stable coins instead of just putting in the dollar amount agianst your local currency
- Lastly, exchanges have a very large KYCed audience, and they have a very hardcore focus on the P2P markets where they can. If regulators & local volume permit, they will be the first to jump in with heavy marketing budgets.
I would be closely following this, and wish you success
If you need any help or advice, drop me an email a.rafay@disrupt.com. Best of luck!