Stablecoins are experiencing rapid growth and becoming the primary platform for internet payments, surpassing traditional payment systems.
The Growing Role of Stablecoins in Digital Payments
Alchemy expert Noam Hurwitz noted that stablecoins can enhance the speed, cost-effectiveness, and security of transactions. He stated that they have surpassed Visa and Mastercard by 7% in on-chain transaction volume.
Increasing Adoption and Transaction Volumes
Stablecoins processed over $27.6 trillion in transactions last year, exceeding Visa's total payment volume. The adoption of stablecoins increased by 53% last year, with active wallets growing from 19.6 million to 30 million.
Legislative Initiatives and the Future of Stablecoins
The recent passage of a Senate bill regulating stablecoins establishes clear rules for businesses and consumer protection, fostering increased institutional interest.
Stablecoins have become a crucial component of the internet payment infrastructure, signaling a new future for global financial processes.
