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Analyst: Stablecoins Could Represent 10% of U.S. M2 and Forex Transactions

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Geoff Kendrick, Head of Digital Asset Research at Standard Chartered Bank, and Nick Philpott, Co-founder of Zodia Markets, have highlighted the growing use of stablecoins beyond trading collateral. Stablecoins are increasingly utilized in cross-border payments, payroll, trade settlements, and remittances. Their adoption is particularly notable in emerging markets such as Brazil, Turkey, Nigeria, India, and Indonesia.

According to a YouGov survey, 69% of users employ stablecoins as a currency substitute, 39% for purchasing goods and services, and another 39% for cross-border payments. Users favor tokenized assets representing fiat currencies like the U.S. dollar, reducing reliance on traditional bank accounts.

The total market capitalization of stablecoins has reached a record high of $190 billion, dominated by USDT (73%) and USDC (21%).

Disclaimer: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.

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