Bernstein: stablecoins are increasingly becoming a systemically critical part of the global financial system
Bernstein noted in a new report that stablecoins are increasingly becoming a systemically critical part of the global financial system, according to CoinDesk. Stablecoin supply has rallied to an all-time high with $170 billion in circulation and has become the 18th largest holder of U.S. Treasuries. The volume of on-chain payments has grown to $1.4 trillion in the past 12 months, demonstrating its widespread use in cross-border payments. In addition, stablecoins are accelerating their integration with fintech companies, including PayPal, MercadoLibre and Grab, among others.Bernstein said USD stablecoins have extremely low transfer fees on the Layer 2 blockchain, with transfers of $1,000 costing just 1 cent.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BTC breaks through $88,500
Stablecoin supply up $5.4bn after US election
The probability of the Fed cutting rates by 25 basis points in December is 62.1 per cent
BTC breaks above $89,500