Insight: The usage of stablecoins surged in the first half of 2024, reaching a value of approximately 2.6 trillion US dollars
The latest survey conducted by Visa and Castle Island Ventures shows that the use of stablecoins surged in the first half of 2024, with settlement volume expected to reach $5.28 trillion by the end of the year. The survey emphasizes that stablecoins are increasingly being used for real-world purposes such as cross-border payments, remittances, payroll, and trade settlements. For non-crypto stablecoin activities, 69% use stablecoins as a currency substitute, 39% for payment of goods and services, and another 39% use stablecoins for cross-border payments. From the realm of cryptocurrency to a global phenomenon, stablecoins are reshaping our ways of payment, savings and trading.
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