Stablecoin demand in Asia driven by migrant flows favors USDT amid banks' regulatory caution

Bernardo Bilotta, CEO of Stables, highlights that Asia accounts for 50% of global stablecoin flows, primarily driven by migrant workers seeking dollar stability via USDT. Despite this demand, Asian banks remain cautious due to regulatory uncertainty and the risk of losing correspondent banking relationships with Western banks. Bilotta sees local stablecoins emerging as last-mile settlement tools, supported by partnerships like Stables and eStable, which integrate local currency issuance with USDT backing. The future growth of stablecoins in Asia depends on balancing regulatory compliance with evolving market needs.