Stablecoin Market to Grow From $125 Billion to $3 Trillion: Bernstein
Over the past few days, a host of major developments with respect to stablecoin s have taken place. PayPal recently launched a U.S. dollar-backed stablecoin to help foster payments. The new asset, called PayPal USD [PYUSD], has been designed to address the “emerging potential” to transform payments in Web3 and digitally native environments. Parallelly, The Fed also issued an explanation a few hours ago revealing that the banks under supervision ought to get pre-approvals for engaging with stablecoin s. Over the past day, stablecoin s worth over $35.3 billion were transacted. The aggregate worth of the stablecoin 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. Source: CoinMarketCap Also Read: U.S. Credit Card Debt Surpasses $1 Trillion Regulated, On-Shore Stablecoins Will Lead Growth: Bernstein Gautam Chhugani’s analyst team noted that the integration with consum...