Stablecoins are rapidly transforming from a niche segment in the crypto world into a key player in global finance. With backing from major financial institutions like Visa, Mastercard, and Stripe, stablecoins are changing the way money moves internationally.
Visa, Mastercard, and Stripe Embrace Stablecoins
Major financial players have begun integrating stablecoins into their products and services. Visa has launched the Visa Tokenized Asset Platform to support the launch and management of stablecoins and tokenized deposits. Stripe is testing stablecoin payments to provide businesses outside the U.S. and E.U. with easier access to USD. Mastercard has also introduced features allowing consumers to spend and merchants worldwide to receive payments in stablecoins.
Stablecoin Market Overview
The stablecoin market is booming, with a total market cap of $243.1 billion, according to Coingecko. Tether (USDT) leads the charge with a market cap of $148 billion, followed by USDC with $62 billion and USDS with $7.6 billion. In terms of transaction volume, Tether dominates with over $51 billion, followed by USDC with $11 billion.
Stablecoin Transaction Volumes Surge Past Traditional Networks
Stablecoins’ weekly transaction volume now exceeds that of Visa, signaling their growing influence in the global financial system. This shift suggests that stablecoins are quickly becoming a mainstream financial tool, challenging traditional payment networks.
Stablecoins are continuing to evolve and integrate into the mainstream financial system, paving the way for new opportunities for businesses and customers worldwide.
