Some commodity traders in Europe have turned to stablecoin settlements after losing banking services due to risks related to Iran.
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Haycen CEO Luke Sully stated that, due to concerns over transaction risks related to Iran, some European commodity traders are having their banking services terminated, and non-bank lenders and traders are turning to stablecoins (especially USDT) for cross-border payments. Haycen plans to become the liquidity and settlement layer for the 2 trillion USD non-bank trade finance market.
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Crypto prices
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Bitcoin
BTC
$68,595.71
-6.74%
Ethereum
ETH
$1,933.54
-5.59%
Tether USDt
USDT
$0.9990
+0.04%
BNB
BNB
$632.35
-6.08%
USDC
USDC
$0.9998
+0.00%
XRP
XRP
$1.03
-1.63%
Solana
SOL
$79.83
-3.69%
TRON
TRX
$0.3109
-1.80%
Hyperliquid
HYPE
$71.29
-0.07%
Zcash
ZEC
$942.98
-4.25%
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