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Europe could lead the world in developing the Internet of Things (IoT) by harnessing the potential of stablecoins, the Digital Euro Association arguments in a new report. Machine-to-machine (M2M) payment is a field poised for growthand stablecoins, in particular, offer advantages for it, the report says.

There are growing use cases for M2M micropayments in industrial and home or office settings, such as handling charges for shipping containers and other fees along a logistics chain and pay-per-use fees for 3D printing, cloud storage and many other services. Currently, these uses are hindered by their potentially overwhelming volume and structural weaknesses, such as the need to layer application programming interfaces (APIs).