How $170B in Stablecoins Is Changing Global Money Transfers!

Currently, stablecoins are gaining more importance in international financial systems. Although they are cryptos, many people prefer stablecoins over other cryptos. These digital assets are designed to maintain a constant value and this may be the reason why people prefer them as a store of value over local currencies.

According to a report from Bernstein Brokerage, the stablecoin is the 18th largest holding of U.S. Treasuries. These currencies are usually pegged to the US dollar, sometimes pegged to other currencies and assets such as gold.

In 2023, the supply of Statcoins showed a slight decrease, but now it has reached a record high. According to Forbes, the stablecoin market cap has reached $172.38 billion. There are about 150 stolkcoins on the market. Tether or commonly USDT leads all with a market cap of $118.8 B. The second highest asset in this category is USDC with a market cap of $35.5 billion. Monthly payments on the chain hit $1.4 trillion in July this year. This is almost three times what it was last year.

Companies like PayPal, Ralph Lauren, AMC Theaters have integrated stablecoins into their systems. Every day more and more companies are accepting crypto payments, especially because of the stable coin. This may be one of the reasons why more crypto projects are launching new stablecoins. Bitgo has announced that they will be launching their Token2049 stablecoin USDC in January 2025. By integrating stablecoins for faster and more affordable transactions, businesses can reap future financial benefits.

Stable coins are becoming very popular among the younger generation. 20% of people aged 18-24 hold more than 25% of their portfolio in statcoins. They prefer to store their value in these digital assets rather than traditional currencies.

As the market value of stablecoins increases, companies will integrate these into their financial systems and more crypto projects will attach stablecoins to various assets and it will be very interesting to find stablecoins in the future.