The U.S. dollar is not technically a cryptocurrency, but for many people it fills the role Bitcoin was designed to address. Bitcoin emerged in 2008 during the global financial crisis, a moment when governments pursued quantitative easing to shore up markets. It was designed to resist bailouts and debasement, with a capped supply of 21 million and a predictable issuance pace, and the genesis block even references bank bailouts. Despite QE, major economies did not experience hyperinflation.
In emerging markets, the dollar’s familiarity, trust, and digital accessibility have made it the preferred option. Digital wallets and stablecoins enable people to hold dollar-denominated assets without requiring deep crypto knowledge, effectively giving a digital bank account. Tools like Opera Mini Pay illustrate how crypto rails can support dollars, running atop the Ethereum Layer 2 CELO network, with fees payable in U.S. dollars, so users don’t need to know anything about crypto.
The result is that crypto infrastructure has paved the path for broader digital adoption, and the dollar’s stable branding has outpaced Bitcoin in real-world use. Opera Mini Pay shows how a crypto layer can enable USD payments, highlighting how crypto rails can support familiar fiat transactions. In the end, the dollar has largely filled the role Bitcoin highlighted, with crypto rails enabling its wider digital reach.
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