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Bernstein: stablecoins are increasingly becoming a systemically critical part of the global financial system

Bernstein: stablecoins are increasingly becoming a systemically critical part of the global financial system

Bitget2024/09/19 08:04
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Bernstein noted in a new report that stablecoins are increasingly becoming a systemically critical part of the global financial system, according to CoinDesk. Stablecoin supply has rallied to an all-time high with $170 billion in circulation and has become the 18th largest holder of U.S. Treasuries. The volume of on-chain payments has grown to $1.4 trillion in the past 12 months, demonstrating its widespread use in cross-border payments. In addition, stablecoins are accelerating their integration with fintech companies, including PayPal, MercadoLibre and Grab, among others.Bernstein said USD stablecoins have extremely low transfer fees on the Layer 2 blockchain, with transfers of $1,000 costing just 1 cent.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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