Rethinking Transaction Volumes: Stablecoins vs Traditional Systems

user avatar

by Giorgi Kostiuk

2 years ago

Coinbase CEO Brian Armstrong presented data on the rise of stablecoin transactions, comparing them with traditional players like Visa.

Rapid Growth of Stablecoin Transaction Volumes

The transaction volume of stablecoins has surged since mid-2016. While Visa's transaction volumes have stayed relatively stable, stablecoins show a steady rise in popularity and usability, indicating increasing influence of cryptocurrencies in the financial world.

Bitcoin and PayPal Transaction Volumes

The graph highlights fluctuations in Bitcoin’s annual transaction volume, which has generally increased since 2013. Despite a decline in 2021, Bitcoin’s current volume is comparable to PayPal, recognizing cryptocurrencies as payment tools beyond mere investments.

Comparison with Traditional Systems

The graph also features annual transaction volumes from traditional systems like Fedwire and ACH. These systems still have significantly higher volumes than stablecoins and Bitcoin, though the gap is gradually narrowing.

The rise in transactions for stablecoins and Bitcoin points to significant shifts in the financial ecosystem, potentially impacting the future landscape of financial transactions.

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

JP Morgan Asset Management Launches Tokenized Money Market Funds on Solana

JP Morgan Asset Management has launched two tokenized money market funds, MONY and JLTXX, on the Solana blockchain for qualified US investors.

user avatarZainab Kamara

Bitwise Dogecoin ETF Reaches Liquidation Distribution Date

The Bitwise Dogecoin ETF has reached its announced liquidation distribution date on October 22, with remaining shareholders set to receive cash based on the fund's net asset value.

user avatarSon Min-ho

Solayer Pay Launches Direct Stablecoin Deposits for Enhanced User Experience

Solayer Pay has launched a feature allowing direct stablecoin deposits from five major blockchain networks, simplifying the funding process for users.

user avatarAyman Ben Youssef

CMCC Global Introduces Tokenized Fund Strategies

CMCC Global is introducing two fund strategies as tokenized securities through Tether's Hadron infrastructure and Bitfinex Securities under El Salvador's regulations.

user avatarTando Nkube

Senator Blumenthal Investigates Tether's Payments to Consultancy

Senator Blumenthal investigates Tether's payments to consultancy Nxum over potential ethics concerns.

user avatarKofi Adjeman

Blockchain Association Pushes for Crypto Tax Legislation

The Blockchain Association advocates for bipartisan changes to cryptocurrency tax regulations, seeking a de minimis exemption for small transactions and clarity in tax reporting for digital asset users.

user avatarNguyen Van Long

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.