Cuy Sheffield, head of Visa's crypto business, said that the demand for stablecoins based on non-U.S. dollar fiat currencies will continue to grow in the coming years, and while the U.S. dollar is suitable for cross-border transactions, fast and efficient local currency conversion is equally important, providing a huge opportunity for other local currency stablecoins. Cuy Sheffield predicted that every major fiat currency will be represented on the blockchain in the future. He welcomed the emergence of more stablecoins in the market that are trying to differentiate themselves from USDT or USDC as an "exciting" trend. He also highlighted that 2024 is a turning point as some non-cryptocurrency businesses start experimenting with using stablecoins to solve the challenge of paying freelancers overseas.