Stablecoins in Banking: SameUSD as a financial tool


Since the introduction of cryptocurrencies, there have been debates between crypto enthusiasts and mainstream centralized financial institutions, i.e., central banks and commercial banks. However, traditional financial institutions have gradually warmed up to cryptocurrencies, embracing the innovation behind Bitcoin and other stablecoins.

The banking system is quickly adjusting. According to the Wall Street Journal, the OCC stated in its guidance that stablecoins are financial tools that banks can use to settle remittances satisfactorily. 

Stablecoin transactions offer banks the much-needed fast and efficient payments through decentralized technologies. SameUSD as a stablecoin can provide banks with the efficient payment mechanisms offered by cryptocurrencies and the stability of fiat currencies. 

Why are banks considering cryptocurrencies?

Banks can use blockchain technology as a private or public distributed ledger. Some banks have already deployed blockchain technology to improve the present scope of inter-bank transaction processes. SWIFT for example.

Similarly, cryptocurrencies that have been the most successful application of the technology have been on the radar of top banking institutions. Cryptocurrencies such as Bitcoin and Samecoin can be used in banks as investment vehicles. 

Banks can tokenize loans and take advantage of traceable blockchain technology to sell and track loans. Also, cryptocurrencies significantly increase the market scope of these centralized financial institutions. For instance, take a case where a US bank wants to offer a specific product to citizens in India. It is challenging for financial institutions to offer cross-border services without having to deal with rigorous regulation processes. 

However, with digital assets such as SameUSD, Bitcoin, and Ethereum, centralized financial institutions such as banks can reach a worldwide market without converting into different local currencies every time. 

Possible impact of SameUSD on banking

SameUSD is at the epitome of stablecoin technology. It is a viable option for banks in developing global payment arrangements. Many crypto assets have since lacked the much-desired stability feature that has been well addressed by SameUSD stablecoin. 

Fundamentally, bank involvement with stablecoins faces some challenges that need to be addressed. For instance, legal and oversight challenges are the most common hurdles faced by stablecoins. However, this is often attributed to a lack of transparency regarding reserve assets reportedly backing the issuing of stablecoins. 

SameUSD displays a high level of transparency about their reserve assets. Also, the coin focuses on ensuring it does not yield to the dynamic market conditions by employing a unique approach to reserve assets.

Since SameUSD is backed by a reserve of a basket of several stablecoins that are, in turn, pegged directly by the US dollar, it ensures that if it has enough diversification that cushions it and ensures stability. 

If one stable currency, such as Tether USDT, that has had negative publicity concerning its reserves becomes severely affected, the value of SameUSD will remain stable notwithstanding. 


The banking sector is at the center of international finance, and with the current dynamics, banks have to keep a close eye on cryptocurrencies. And stablecoins are at the center of cryptocurrencies. Stablecoins, such as SameUSD, offer the right balance between cryptocurrencies and fiat. Banks can use this feature of SameUSD to scale up and penetrate international markets.  

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