Stablecoin Adoption Continues to Grow, Surpassing Traditional Payment Firms

According to the latest report, stablecoin transaction value in 2024 reached $15.6 trillion, a five-year record high. This significant growth has led to stablecoins surpassing traditional payment card giants like Mastercard and Visa by 119% and 200% respectively.

Stablecoin Transaction Value Overtakes Traditional Payment Firms

The annual transaction value of stablecoins more than doubled compared to the previous year, increasing from around $7 trillion to $15.6 trillion within the span of one year. This growth indicates that more people used stablecoins to transfer their funds in 2024 compared to credit card companies like Visa, Mastercard, and American Express.

Despite a two-year bear market and a 70%+ decline in market capitalization, stablecoin growth has remained uninterrupted.

Monthly Transaction Volume Sets New Records

On a monthly basis, the number of stablecoin transactions amounted to $110 million, which was around 0.41% and 0.72% more compared to transactions processed through Visa and Mastercard. The daily transaction volume for stablecoins in December 2024 reached $270 billion, with a monthly volume of $2.7 trillion.

Top Stablecoin Issuers and Blockchains

Tether and Circle remain the top two stablecoin issuers by market cap. Solana, Tron, Ethereum, and Base were the largest contributors of stablecoin volume when measured by blockchain.

Market Capitalization Reaches All-Time High

A recent report showed that the total market cap for stablecoins reached an all-time high at $204 billion, representing a 22% rise in value.

Regulatory Framework for Stablecoin Growth

A new stablecoin bill, the “Guiding and Establishing National Innovation for US Stablecoins” or GENIUS Act, aims to present a regulatory framework for growing the stablecoin market in the United States. This bill could help strengthen the global dominance of the U.S. dollar.

Stay up-to-date with the latest news on stablecoins and the cryptocurrency market by visiting Global Crypto News.

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