Stablecoin volumes surpassed Visa and Mastercard combined in 2024
Stablecoins’ role as the lifeblood of crypto trading and DeFi outweighs their use case for savings and remittance, CEX.io’s lead analyst said.
Stablecoins, which play a major role in the global cryptocurrency ecosystem, saw massive adoption in 2024, with their transfer volumes beating those of Visa and Mastercard combined.
The annual stablecoin transfer volume reached $27.6 trillion last year, surpassing the combined volumes of Visa and Mastercard by 7.7%, according to a Jan. 31 report by crypto exchange CEX.io.
One of the major catalysts amplifying stablecoin transfer volume has been the increased use of bots, especially on Solana and Base, CEX.io lead analyst Illia Otychenko said.
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Author: Helen Partz
