Bitcoin is the most commonly supported cryptocurrency used during transactions with these systems, and some gateways provide the ability to pay with alternative cryptocurrencies like an emerging stablecoin. In the past year, USD-pegged stablecoins circulating on public blockchains have seen an explosive growth. Stablecoin is a type of decentralized payment system that is new and under studied to make meaningful predictions. The effect of stablecoin adoption on traditional banking and credit provision depends on the source of inflows and the composition of stablecoin reserves. A two-tiered banking system can support both stablecoin issuance and traditional forms of credit creation. In this paper, we present the comprehensive summary of effects of blockchain on stablecoin as a global payment method. I investigated the different use cases and their affects/role to the global accuracy graphs. After that, we discussed the different challenges that can affect the implementation of stablecoin as a global payment system. Finally, we drew open research directions for building future researches in conclusion.

Keywords : Stablecoins, Cryptocurrency, Blockchain, Decentralized Payment Systems.