Investing.com - Financial Markets Worldwide
⛔ Stop guessing ⛔ Use our free stock screener to find new opportunities fast Try Free Screener

Stablecoin Settlements Reach $7 Trillion in 2022, Beat Credit Card Providers

Published 2022-12-23, 01:08 p/m
© Reuters. Stablecoin Settlements Reach $7 Trillion in 2022, Beat Credit Card Providers

  • The stablecoins attained a record total settlement volume by reaching over $7 trillion in 2022.

  • The current volume record has beaten the volume of the leading credit card providers, except Visa (NYSE:V).

  • Peter Johnson commented that in the next year, the stablecoins would even beat Visa.

According to the data obtained from CoinMetrics, the leading crypto financial intelligence platform, stablecoins achieved a new record total settlement volume this year. Comparatively, the record volume is higher than the major credit card providers, except Visa.

The leading crypto exchange Binance updated its official page with the details regarding CoinMetrics’ analysis of the record of the stablecoins:

According to Coinmetrics data, on-chain stablecoin settlements reached over $7 trillion in 2022 and are expected to end the year at around $8 trillion. While the largest card network Visa, processes ~$12tn/yr.

As per the reports, the adoption of the top stablecoin Tether (USDT) is stagnating while its major ...

The post Stablecoin Settlements Reach $7 Trillion in 2022, Beat Credit Card Providers appeared first on Coin Edition.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.