Stablecoins play a very critical role in the crypto economy today and despite the recent run-down in the broader market, stablecoin volumes continue to dominate most exchanges.
According to Coin Metrics data, on-chain stablecoin settlements reached over $7 trillion in 2022 and are expected to end the year at around $8 trillion.
He also noted that stablecoins volume would not only surpass Visa but most likely surpass the aggregate volume of all four major card networks (Visa, Mastercard, AmEx and Discover).
Mastercard/discover etc volumes are sourced from consumer spending.
This $7+tn would need to come from payments for consumer goods/services using stablecoins to be a relevant comparison — Kim :zap: (@0xKimberly) December 21, 2022 A key barrier for stablecoins to be actively used by consumers in their daily lives, just like Visa and Mastercard, is regulations.
However, Republican Senator Pat Toomey, who is set to retire from U.S. Congress at the end of the term, aims to change that with his stablecoin bill.
Source: Cointelegraph
#Stablecoin