Stablecoins are becoming a significant systemic asset class
-
Altcoin News
Bitcoin news
Blockchain News
blog
DeFi News
Exchange News
General
Market News
Prediction
Без рубрики
Johny Smith
2024/09/27
3 mins read
Analysts from Bernstein conducted a study of the stablecoin segment. In their opinion, this asset class is becoming systemically important. This fact is supported by the fact that currently issuers of stable coins occupy 18th place in the ranking of the largest holders of US Treasury bonds. The report noted that in 2023 there was a decline in the market supply of stablecoins. However, this year this figure reached a historical high of $170 billion. At the same time, the monthly volume of payments in the stable coin segment has tripled over the past 12 months. As of the end of July, the figure reached $1.4 trillion.
“Stablecoins provide international users with access to savings in US dollars, spreading digital dollars beyond the US,” Bernstein analysts said. It was also noted that stable coins are increasingly being integrated with large payment companies such as PayPal or Grab. In addition, this class of digital currencies is used in cross-border payments.
Bernstein employees emphasized that stablecoins are very profitable in terms of conducting international transactions due to low commission costs. At the same time, they are intensively used by users for diversification purposes. The fact is that stablecoin quotes are tied to the rate of a particular fiat asset in a 1 to 1 ratio.
Numerous studies show that about 20% of Americans under the age of 24 surveyed own stablecoins. Many experts also note that an increase in the supply of stable coins can have a positive effect on the dynamics of most digital assets. The fact is that they create additional liquidity in the market. It should also be noted: the monopolist in this segment remains USDT.
Error in the text? Select it with the mouse and click Ctrl + Enter
32