Stablecoin integration into forex markets relies on fiat interfaces within the cryptocurrency market to provide liquidity. The customer demand will come internally within the highly-connected virtual domain where the main driver for adoption is the need for less volatile instruments that facilitate value storage and the ability to derive arbitrage opportunities.
The secondary demand will be from forex participants looking for on-ramps into crypto from different denominations of fiat. These transactions will go through retail and OTC desks handling both forex and virtual currencies. Retail aggregators hosting virtual currency exchange platforms are also the leading OTC dealers for virtual currencies.