ARK Invest analysts reported that last year, stablecoins outperform Visa and Mastercard in terms of transaction volume. Now, Bitwise has reported that the volume of transactions using stablecoins in 2024 almost reached $14 trillion, exceeding Visa’s figures. Back in 2023, stablecoins stood at $7 trillion, while Visa had $13 trillion. The fact that the volume of transactions with stablecoins doubled in a year shows the growing confidence of users in this financial instrument.
The two main projects are Tether (USDT), with a capitalization of $148 billion, and USD Coin (USDC) with $59 billion. It is this stability, combined with the speed and low cost of transactions, that has made stablecoins an ideal tool for those who need to make international money transfers safely and quickly.
According to Bitwise CEO Matt Hougan, in 5 years, stablecoins will dominate the cross-border payments market, which is currently dominated by Visa, SWIFT, and banking counterparties.
The growth of stablecoin use has not gone unnoticed: giants such as PayPal, Fidelity, Stripe, and even traditional banks such as Bank of America have shown interest in launching or supporting stablecoins.
Currently, two bills are being discussed in the United States, one in the Senate and one in the House of Representatives, which would create a clear regulatory framework for stablecoins Trump wants to launch his own USD1 stablecoin.
Source: Bitwise