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

HTX Strengthens Global Compliance and Showcases at TOKEN2049

HTX has made significant strides in global compliance initiatives while participating in TOKEN2049, a major event in the crypto industry held in Singapore.

user avatarDiego Alvarez

SEC Files Charges Against Richard Heart for Fraud

The SEC charged Richard Heart and his entities with conducting unregistered offerings of crypto asset securities.

user avatarMaria Fernandez

HTX Marks 13th Anniversary with Major Celebrations and Trading Events

HTX celebrated its 13th anniversary with major events, including the Anniversary Carnival and Trading Championship 3, highlighting its resilience in the crypto market.

user avatarKenji Takahashi

Richard Heart Arrested in Istanbul on Interpol Charges

Richard Heart, founder of Hex cryptocurrency, was detained in Istanbul under an Interpol Red Notice for aggravated tax fraud.

user avatarGustavo Mendoza

MediaMarkt Saturn Ceases Sales of Ledger Devices Amid Security Concerns

MediaMarkt Saturn has stopped selling Ledger devices due to security concerns following a customer report of a hidden implant.

user avatarRajesh Kumar

Binance Expands into Traditional Finance as Mining Pool Closes

As Binance prepares to shut down its mining pool, the exchange is expanding into traditional finance by providing access to over 7,000 US stocks and ETFs for customers outside the United States.

user avatarMiguel Rodriguez

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.