Poor UX is causing stablecoin “ticker fatigue”: ZachXBT

According to on-chain detective Zach

According to ZachXBT, limitations on cross-chain bridging, gas and transaction fees that must be paid in the native token of the blockchain being used, and a lack of universal token support across exchanges are all obstacles users face when transferring stablecoins across the cryptocurrency ecosystem. He gave the following example:

“Imagine that you received USDPT on your Solana address, but you realize it is not in your wallet’s default token list. You also need gas, so you want to bridge your ETH from Ethereum, wait a few minutes, and exchange your USDPT to USD on a centralized exchange.”

sauce: Zack XBT

From there, users may find that their chosen exchange does not support that token or swaps for that token, requiring them to bridge to another blockchain, spend more gas fees, download another wallet, or sign up to another exchange to perform transactions.

Industry executives told Cointelegraph that cryptocurrencies’ lack of a smooth user experience and intuitive user interface (UI) is the biggest obstacle to mass adoption and achieving parity with Web2 and traditional financial applications.

Related: Visa launches stablecoin support on four blockchains

Abstracting specialization: The future of stablecoins

Cryptocurrency exchanges will eventually abstract away stablecoin tickers and provide users with a front-end interface that only displays the stablecoin’s underlying fiat currency, such as the US dollar or British pound, said Maat Mumtaz, CEO of Helius, a remote procedure call (RPC) node provider.

Mumtaz said the exchanges will do the heavy lifting behind the scenes, such as cross-chain swaps and transfers, allowing users to seamlessly interact with stablecoins from any issuer without any technical barriers.

By managing wallets on behalf of users, AI agents and autonomous AI bots also reduce the technical difficulties of using stablecoins from different issuers or across blockchain networks, Reeve Collins, co-founder of stablecoin issuer Tether, told Cointelegraph.

magazine: They solved the unstable UX problem of cryptocurrencies – you just haven’t noticed it yet