This, and the above comment from Flex, are partially correct. Apart from the points made, stable coins are also desired as they can easily transferred without deduction of FX commission by an intermediary. And they can help skirt FX controls. And they are seen as avoiding bank intermediary country party risk. And of course in many countries a USD stable coin will hold it value better than a local depreciating currency.
The implications for Bitcoin are of course as follows:
Once people get comfortable with wealth stored in a tokenized form, and the benefits thereof, they will look one step ahead as to which digital currency preserves value best. The USD is of course the "least worst" choice among a 200+ fiat currencies, all of which are declining in value over time. So the next logical step is to store wealth in BTC, and use stable coins for transactions, unless of course Sats are requested (which will of course happen over time, as sellers want the most valuable asset to hold in terms of wealth preservation, vs a declining currency). This will take time, but it will enviably happen as people collectively figure out the relative long term decline trend in value of the USD vs BTC over time. And that my friends, it where the opportunity for us lies.
A smart investor always thinks a step or two ahead...
We are correct in our statements.
The vast majority of people in developing countries want hard currencies in order to preserve their wealth and hedge against depreciating local currencies.
They cannot simply go into a foreign exchange store and buy USD, Euros, Pounds etc.
They might be able to open a foreign exchange account at certain banks, but there is a lot of red tape and conditions and the fees are high, making it impractical for most people.
Besides the black market, by far the easiest and cheapest way is on a crypto exchange.
Most are looking to preserve their savings, relative to the major currencies and maintain some purchasing power globally, instead of losing a percentage annually to local depreciation and another percentage to local inflation.
Another advantage of stablecoins for people in developing countries is that they can also earn interest, which can give them higher real interest rates compared to investing in their local banks.
And stablecoins use Etheruem.