2024 was a very good year for stablecoins. The blockchain-based digital tokens, which are pegged to fiat currencies or assets to minimize volatility, gained traction as financial services firms ventured into blockchain, while Donald Trump’s election victory portends a pro-crypto administration in the U.S. Stablecoins have transitioned from speculative tools to potentially foundational elements of global finance

Russian businesses are reportedly using bitcoin and other cryptocurrencies to make international payments. It’s a trend that comes in the wake of legislative changes that permitted these types of payments to get around western sanctions, Reuters reported Tuesday (Dec. 26), citing comments from Russian Finance Minister Anton Siluanov. As the report noted, the sanctions — issued following Russia’s invasion of Ukraine in 2022 — have made it tougher for Russia to trade with partners like China and Turkey. But this year, Russia began allowing crypto for foreign trades, and is working on legalizing the mining of crypto such as bitcoin

For once in its recent history, the cryptocurrency sector is likely ending the year on a high. Bitcoin, despite dropping below the $100,000 mark as of reporting, is up over 110% for the year having hit a successive series of all-time highs. Institutional adoption of digital asset solutions is growing as the regulatory and political landscape softens. The U.S. Securities and Exchange Commission (SEC) is getting a new chief who could put to bed many old legal issues lingering over the domestic landscape. Stablecoins are emerging as a potent payments tool for enterprise businesses