Crypto has come a long way from its emergence in 2009, and is now well on its way to mainstream adoption. What started as a theoretical solution to some of the limitations of fiat currencies – offering privacy, reduced transaction and exchange fees, increased financial inclusion and decreased government interference – has grown into a global phenomenon, with the total global market capitalization of cryptocurrency reaching $3 trillion by the end of 2021, as TIME reported. The universe of cryptocurrencies has expanded from just 50 types of tokens in 2013 to more than 16,000 today, according to Statista, and fintechs and governments alike are getting into the game and introducing less volatile, dollar- or government-backed stablecoins.