According to Odaily Planet Daily, Social Capital CEO Chamath Palihapitiya said that stablecoins will become a key tool for wholesale transactions in 2025.
He expects stablecoin transactions to exceed 1.1 billion by 2024, settling $8.5 trillion, more than double Visa’s transaction volume.
Palihapitiya believes this growth will challenge the duopoly of Visa and Mastercard, especially as credit card rates rise.
He also highlighted the transparency and traceability that blockchain technology provides for transactions, and mentioned last year’s prediction that 2024 would be the year Bitcoin would achieve mainstream adoption.