Stablecoin

PayPal USD

Million

Billion

Trillion

<div class="watcher-guru"> 
 <p>Over the past few days, a host of major developments with respect to <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s have taken place. PayPal recently launched a U.S. dollar-backed <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> to help foster payments. The new asset, called PayPal USD [PYUSD], has been designed to address the <strong>“emerging potential”</strong> to transform payments in Web3 and digitally native environments.</p> 
 <p>Parallelly, The <a rel="noopener noreferrer nofollow" title="Fed" href="https://thebittimes.com/tag/fed.html">Fed</a> also issued an explanation a few hours ago revealing that the banks under supervision&nbsp;ought to get pre-approvals&nbsp;for engaging with <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s. Over the past day, <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s worth over $35.3 billion were transacted. The aggregate worth of the <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> market stood at $125.582 billion at press time. Owing to the gradual adoption, Berinstein expected the market to be worth almost $3 trillion in 5 years. </p> 
 <figure class="wp-block-image size-large"> 
  <img decoding="async" width="1024" height="113" src="https://cdn.thebittimes.com/images/2023/08/09/54ddb79a1e8871594080258931acbdb7.webp" alt="" class="wp-image-106127" srcset="https://cdn.thebittimes.com/images/2023/08/09/54ddb79a1e8871594080258931acbdb7.webp 1024w, https://cdn.thebittimes.com/images/2023/08/09/54ddb79a1e8871594080258931acbdb7.webp 300w, https://cdn.thebittimes.com/images/2023/08/09/54ddb79a1e8871594080258931acbdb7.webp 768w, https://cdn.thebittimes.com/images/2023/08/09/54ddb79a1e8871594080258931acbdb7.webp 380w, https://cdn.thebittimes.com/images/2023/08/09/54ddb79a1e8871594080258931acbdb7.webp 550w, https://cdn.thebittimes.com/images/2023/08/09/54ddb79a1e8871594080258931acbdb7.webp 800w, https://cdn.thebittimes.com/images/2023/08/09/54ddb79a1e8871594080258931acbdb7.webp 1096w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: CoinMarketCap 
  </figcaption> 
 </figure> 
 <p><strong>Also Read: U.S. Credit Card Debt Surpasses $1 Trillion</strong></p> 
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add"> 
   <div data-fuse="22560828227"></div> 
  </div> 
 </div> 
 <h3 class="wp-block-heading" id="h-regulated-on-shore-stablecoins-will-lead-growth-bernstein">Regulated, On-Shore Stablecoins Will Lead Growth: Bernstein</h3> 
 <p>Gautam Chhugani’s analyst team noted that the integration with consumer platforms will lead to a “growth flywheel” for&nbsp;<a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s. Consequentially, this will allow them to onboard more users and expand distribution beyond crypto-centric platforms. Furthermore, the report noted, </p> 
 <p><strong>“We expect major global financial and consumer platforms to issue co-branded <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s to power value-exchange on their platforms.”</strong></p> 
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div id="primisContainer" class="add"></div> 
 </div> 
 <p>Several other well-established companies also have stablecoin projects lined up. At the beginning of 2023, a Visa executive indicated that stablecoins could play a meaningful role in the payments division. The payment giant has “a number of initiatives” underway. Additionally, to tap into this trend, even Ripple launched its own platform for the development of stablecoins in Q2 2023.</p> 
 <p>The Bernstein report highlighted that stablecoins will be fueled by a “hyper-fast financial settlement layer” on public blockchains like Ethereum. Regulated, onshore stablecoins will play a pivotal role in shaping the growth dynamics, the analysts added.</p> 
 <p><strong>Also Read: Singapore: MAS Commits $111 Million for Web3, FinTech Solutions</strong></p> 
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add"> 
   <div data-fuse="22560828233"></div> 
  </div> 
 </div> 
 <p></p> 
</div> 
<div class="cs-entry__tags"> 
 <ul> 
  <li>bernstein</li> 
  <li>Fed</li> 
  <li>Paypal</li> 
  <li>Ripple</li> 
  <li>stablecoin</li> 
  <li>VISA</li> 
 </ul> 
</div>

Stablecoin Market to Grow From $125 Billion to $3 Trillion: Bernstein

Table of Contents

TheBitTimes

Other articles published on Aug 9, 2023

Shiba Inu emerges as top gainer amid high whale activity

Exonet and Exania: The Pinnacle of Internet Evolution

Report: One-third New Yorkers believe Crypto is a “worthwhile investment for the future“

Bitcoin Touches $30k as Microsoft Announces Web3 Partnership

Aptos (APT) Jumps 15% After Landing Microsoft Partnership

Two Cardano (ADA) Pairs Delisted on Major Exchange Following XRP Removal

Join our free newsletter for daily crypto updates!