Will Tether, Stablecoin Settlements Surpass Visa, Mastercard In 2023?
The past year has been quite depressing for the crypto market. Collapses, bankruptcy filings, and stagnated prices are the characteristics that stood out in 2022. With the gloomy year almost coming to an end, Peter Johnson, Co-Head of Venture at Brevan Howard Digital took to Twitter to share a positive development pertaining to Stablecoins . Stablecoins: The Crypto Market’s Knight In Shining Armor? In 2021, Stablecoins settled around $7 trillion in on-chain. However, the rate is already up to $9 trillion per year now. Johnson highlighted that the amount settled by other payment-processing corporations like Mastercard (~$2.2T), Amex (~1T), and Discover (<200B) were fairly lower. Visa’s processing rate alone, on the other hand, stood around $12 trillion per year. 1/ Last year, stablecoins settled >$7tn on-chain. Current run-rate is ~$9tn/yr. This is significantly more than Mastercard (~$2.2tn), Amex (~$1tn), and Discover (<$200bn). In 2023, on-chain stablecoin...