Remittance Apps Lose Popularity: Growing Interest in Stablecoins

user avatar

by Giorgi Kostiuk

2 years ago

In 2024, a decrease in remittance app downloads has opened up opportunities for the stablecoin market expansion.

Decline in Remittance App Growth

In 2024, a slowdown in remittance app downloads has been observed, defying the previous period's growth trend. This may be attributed to the rising popularity of stablecoins, according to Matthew Sigel, head of digital assets research at VanEck.

Stablecoins Impact on the Money Transfer Market

The use of stablecoins for cross-border payments has grown in recent years due to their speed and lower transaction fees. Projects like Ripple and Solana have actively promoted the use of stablecoins for money transfers, reducing the market share traditional apps hold.

Future Growth Trends of the Stablecoin Market

The stablecoin market continues to expand, and its share in the remittance market is likely to grow. Transaction volumes with stablecoins significantly surpass those of traditional remittances, promising further growth in this segment.

As interest shifts from remittance apps to stablecoins, the digital asset market can expect further development and an increased role in cross-border money transfers.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Goldman Sachs Integrates $100 Billion Treasury Fund with Crypto Institutional Frameworks

Goldman Sachs has announced the integration of its $100 billion Treasury Fund with crypto institutional frameworks, marking a significant development in the digital asset ecosystem.

user avatarArif Mukhtar

UK Financial Conduct Authority Opens Crypto Authorisation Regime

The UK Financial Conduct Authority has formally opened its Crypto Authorisation Regime, marking a significant development in the digital asset ecosystem.

user avatarMaria Gutierrez

Amazon Stock Price Predictions for 2027

Major firms predict Amazon stock will reach $350 per share by 2027, driven by AWS growth and AI advancements.

user avatarDavid Robinson

Tether Partners with Shiga to Launch Financial Products in Africa and Gulf

Tether is transitioning its Wallet Development Kit into financial products for users and institutions in Africa and the Gulf, collaborating with Shiga.

user avatarJacob Williams

Soneium and DayOneDream Join Forces to Tokenize Kpop Revenue Streams

Soneium partners with DayOneDream to tokenize Kpop revenue streams using blockchain technology.

user avatarAndrew Smith

Strive Increases Bitcoin Holdings by 1,107 BTC

Strive has significantly increased its Bitcoin holdings by acquiring 1,107 BTC for approximately $945 million.

user avatarZainab Kamara

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.