bitcoin
Bitcoin (BTC) $ 69,096.51
ethereum
Ethereum (ETH) $ 3,807.03
tether
Tether (USDT) $ 0.99983
bnb
BNB (BNB) $ 601.28
xrp
XRP (XRP) $ 0.535778
cardano
Cardano (ADA) $ 0.461109
usd-coin
USDC (USDC) $ 1.00
matic-network
Polygon (MATIC) $ 0.720512
binance-usd
BUSD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.170159
okb
OKB (OKB) $ 48.54
polkadot
Polkadot (DOT) $ 7.43
shiba-inu
Shiba Inu (SHIB) $ 0.000025
tron
TRON (TRX) $ 0.113942
uniswap
Uniswap (UNI) $ 11.52
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 69,200.54
dai
Dai (DAI) $ 0.999309
litecoin
Litecoin (LTC) $ 84.71
staked-ether
Lido Staked Ether (STETH) $ 3,803.99
solana
Solana (SOL) $ 163.52
avalanche-2
Avalanche (AVAX) $ 37.22
chainlink
Chainlink (LINK) $ 17.29
cosmos
Cosmos Hub (ATOM) $ 8.37
the-open-network
Toncoin (TON) $ 6.31
ethereum-classic
Ethereum Classic (ETC) $ 31.79
leo-token
LEO Token (LEO) $ 5.93
filecoin
Filecoin (FIL) $ 5.89
bitcoin-cash
Bitcoin Cash (BCH) $ 488.10
monero
Monero (XMR) $ 141.31
bitcoin
Bitcoin (BTC) $ 69,096.51
ethereum
Ethereum (ETH) $ 3,807.03
tether
Tether (USDT) $ 0.99983
bnb
BNB (BNB) $ 601.28
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.535778
binance-usd
BUSD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.170159
cardano
Cardano (ADA) $ 0.461109
solana
Solana (SOL) $ 163.52
matic-network
Polygon (MATIC) $ 0.720512
polkadot
Polkadot (DOT) $ 7.43
tron
TRON (TRX) $ 0.113942

Stablecoins Are Seeing Adoption as a Cross-Border Settlement Mechanism: Bernstein

Must Read

Stablecoins are being adopted for cross-border settlements, Bernstein mentioned.

There have been indicators of early adoption by fee companies equivalent to Paypal and Visa, the dealer mentioned.

Stablecoin provide is rising, the report famous.

The stablecoin market is rising and these cryptocurrencies are being adopted for cross-border settlements with funds companies, fintech corporations and client platforms among the many early customers, dealer Bernstein mentioned in a analysis report on Tuesday.

Bernstein notes that stablecoin provide presently stands at $150 billion, with tether (USDT) and USD Coin (USDC) dominating the market with shares of 75% and 22% respectively. A stablecoin is a sort of cryptocurrency that’s normally pegged to the U.S. greenback, although another currencies and property equivalent to gold are additionally used.

“Stablecoin worth settled on the blockchain signifies sturdy adoption of digital greenback with the crypto buying and selling ecosystem in addition to a cross-border funds foreign money,” analysts Gautam Chhugani and Mahika Sapra wrote, noting that “Q1 2024 annualized worth transferred stands at $6.8 trillion, equal to 2022 excessive of ~$7 trillion.”

The authors mentioned there have been indicators of stablecoin adoption by funds companies equivalent to Paypal (PYPL) and Visa (V) and client fintech platforms equivalent to Seize (GRAB) in Singapore and Mercado Libre (MELI) in Latin America.

Solana is main the sphere in blockchain funds, however has scalability points, the report mentioned. “The large change this cycle has been the dominant market share of Solana (43% highest share) in worth of stablecoins transferred versus prior cycle market chief Ethereum,”

See also  Akon’s cryptocurrency and metropolis have failed — enter Idris Elba

Solana is conducting pilots with Visa and Shopify, however it’s unclear whether or not the blockchain can break into extra mainstream client and business-to-business funds, which might require a large bounce in scalability, the notice mentioned.

“Scalability necessities for client funds would require 15-20 fold development from right here (Solana ~700 TPS versus 10K+ for fee networks), and basic objective blockchains are but to cross that chasm,” the report added.

Learn extra: Stablecoin USDC Is Making a Comeback: Coinbase

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Voting Begins to Distribute Charges to Token Holders

Regardless of receiving a warning from the US Securities and Change Fee (SEC), Uniswap Basis is continuous with its...

More Articles Like This