Reported about 17 hours ago
Stablecoin usage for payments has skyrocketed by 70% since the implementation of US regulations in July, with over $10 billion transacted in August alone. This uptick is attributed to the Genius Act, which mandates stablecoin issuers to back their tokens with liquid assets. Business-to-business transactions now dominate stablecoin payments, highlighting a shift as companies opt for faster transfers over traditional banking methods. Despite the rapid growth, stablecoin payments still constitute a small portion of overall payment volumes, but their continued growth indicates a promising future for this form of digital currency.
Source: YAHOO