A recent survey conducted by Visa and Castle Island Ventures reveals that stablecoin usage saw a significant surge in the first half of 2024. The report estimates that by the end of the year, the total settlement volume could reach $5.28 trillion. The survey highlights that stablecoins are increasingly being used for real-world applications such as cross-border payments, remittances, payroll, and trade settlements.
For non-crypto activities, 69% of respondents use stablecoins as a currency substitute, 39% for payments of goods and services, and another 39% for cross-border transactions.
From being a niche cryptocurrency to becoming a global phenomenon, stablecoins are reshaping the way we handle payments, savings, and transactions across various sectors.