Fiat-backed stablecoins have eclipsed Mastercard and PayPal in moving more value across their networks in 2022, according to a Bloomberg Intelligence note on Aug. 25.
According to Bloomberg Intelligence crypto market analyst Jamie Coutts, stablecoins on several Layer-1 networks transacted $6.87 trillion in 2022, surpassing the transaction volumes of Mastercard and PayPal.
However, stablecoins still lagged behind the Visa network, which processed nearly double the volume at $11.6 trillion.
Source: Bloomberg Intelligence
Notably, the bear market of 2023 has not been so kind to the stablecoin market as it fell behind Mastercard year-to-date.
Coutts suggests that stablecoins’ adoption growth, which has outpaced Bitcoin and Ethereum in the past two years, is set to accelerate due to network effects and significant improvements in blockchain scaling.
These factors are laying the foundation for increased global adoption of stablecoins. However, it’s also worth noting that stablecoin volum
We współpracy z: https://cryptoslate.com/stablecoin-volume-outpaced-mastercard-paypal-in-2022-as-digital-payments-wars-loom/
