Markets Outlook Stablecoins, Survival and Trust in Emerging Markets | Markets Outlook
Sep 17, 2025
In this engaging discussion, Justin Norman, Founder of The Flip and filmmaker, shares insights from his documentary series on stablecoin adoption in emerging markets. He reveals how Argentinians navigate complex legal gray areas while using stablecoins, motivated by taxes and a preference for dollars over mere hyperinflation. In Bolivia, he highlights the critical role stablecoins play for businesses striving to survive amidst economic challenges. Listeners gain a fascinating look at how these digital currencies serve as lifelines in turbulent economies.
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Local Context Shapes Stablecoin Use
- Stablecoin use varies dramatically market by market and requires a bottom-up understanding.
- Justin Norman says adoption depends on local problems, not a one-size-fits-all solution.
Argentina Was More Pesos Than On‑Chain
- In Argentina Justin expected visible on-chain use but found most people still spent pesos and off-ramped stablecoins into local fiat.
- He left convinced the future is an entanglement of stablecoin and fiat flows.
Dollar Preference Isn’t Only Inflation
- The common narrative of hyperinflation misses other drivers like taxes and distrust that push Argentinians toward dollars.
- Stablecoins mainly help move money across borders rather than replace everyday peso spending.