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ABSTRACT
With value pegged to fiat currencies, stablecoins can mediate the price volatility of cryptocurrencies. And yet, the concept of stablecoin and its impact on fostering individuals’ cryptocurrency adoptions remain unclear. To explore stablecoin’s role in a contextualized way, we adopted the Push-Pull-Mooring (PPM) model as the theoretical foundations. PPM Framework is especially suitable for our study because it allows us to use a pretest-posttest approach to study the changes of different factors created by introducing stablecoins and the impact of these factors on the continuous intention (CI) of adopting cryptocurrency exchanges. Our results suggested that less experienced cryptocurrency users might not understand immediately upon learning about stablecoins. They may even feel confused and become less motivated to adopt cryptocurrencies. Conversely, more experienced users may recognize the importance of stablecoins. Moreover, after the introduction of stablecoins, the power of different factors on CI has also changed. Therefore, cryptocurrency exchanges need to adopt more diversified strategies to engage users of varying experience levels.
Disclosure statement
No potential conflict of interest was reported by the author(s).
Correction Statement
This article has been republished with minor changes. These changes do not impact the academic content of the article.