đ Stablecoins are making waves globally, especially in emerging markets! According to a new report by BVNK and the Centre for Economics and Business Research, businesses and consumers in 17 countries are paying an average premium of 4.7% for USD-pegged stablecoins. In Argentina, this premium skyrockets to 30%! đž
By 2027, these countries are projected to spend $25.4 billion on stablecoin premiums alone. The inefficiencies of current cross-border payment systems, which trap $11.6 billion in working capital, are driving this trend. Stablecoins could facilitate $2.8 trillion in cross-border payments by the end of this year.
Circleâs USD Coin (USDC) saw a trading volume surge in July, thanks to new European regulations. Meanwhile, Tetherâs USDT holds 70% of the stablecoin market share, with a global market cap of $164 billion.
BVNK co-founder Chris Harmse predicts the stablecoin market cap will grow from $160bn to $1 trillion in the next few years, with payment volumes potentially reaching $15 trillion by 2030.
đŹ What do you think about the future of stablecoins? Share your thoughts in the comments!
