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Olá pessoal!
Last month at Stellar Meridian in Rio de Janeiro, I had the privilege of moderating a super interesting panel exploring how stablecoins are solving real problems in emerging markets. Joining me were:
Sebastian Siseles, CEO of Vesseo
Ibrahim Abdulhussein, CEO of Digibank
Camila Rioja, Executive Director of Plexus Institute
Justin Norman, founder of The Flip
The conversation revealed that successful crypto adoption isn’t just about the technology - it’s about successfully pairing the technology with local operators and users to create the ideal localized solution.
Ibrahim’s story exemplifies this perfectly. After struggling to send money to his father in war-torn Syria, he built Digibank - a network of 2,000+ physical cash-out points across the MENA region serving 31,000 users. The innovation? Users receive a PIN code via SMS or print, walk to a local merchant, and collect cash. No wallet required. No blockchain knowledge needed. Just simple access to remittances in countries where Western Union doesn’t operate.
Sebastian shared how Vesseo is building a non-custodial wallet that prioritizes real-world usability over crypto education. Their mission: “earn global, spend local.” In the coming weeks, they’ll be launching the first Stellar wallet with crypto-to-fiat cards, allowing users to convert USDC at point-of-sale.
As Sebastian put it, comparing a traditional $35 wire transfer to near-instant, near-free Stellar transactions is “no brainer” territory.
Camila’s work with Plexus Institute showcases how existing systems can be enhanced with blockchain. Brazil already has 180+ community currencies serving municipalities across a country 205 times the size of Switzerland. Their Aratu project is piloting transparent, on-chain distribution of social benefits to communities of mainly women harvesting crabs in Brazil’s northeast.
Justin, fresh from a three-week documentary tour across South America, emphasized what ties these stories together: last-mile user experience matters more than infrastructure hype. The excitement around stablecoins often focuses on volumes and new layer-ones, but real adoption happens when solutions are deeply localized for each context.
Key Takeaways:
Context matters more than infrastructure - Each market has unique drivers: Bolivia’s dollar shortages, Argentina’s capital controls, Syria’s lack of banking infrastructure, Brazil’s community currency networks.
Abstract away the complexity - The best projects hide blockchain entirely. Users don’t need crypto knowledge to benefit from crypto rails.
Trust takes time - Digibank’s Syrian health workers initially cashed out salaries immediately; seven months later, many now hold USDC voluntarily.
Build on what exists - Don’t create new behaviors from scratch. Enhance existing financial practices with blockchain’s benefits.
The future of stablecoins isn’t purely on-chain or off-chain. Rather, it’s intertwined with existing financial behaviors and meeting users where they are.
Have a great week everyone,
-AWS
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