The post Coinbase CEO Reveals Surge in Stablecoin Usage appeared on BitcoinEthereumNews.com.

Brian Armstrong, the CEO of Coinbase, recently shared insights on the rising transaction volumes of stablecoins, juxtaposed against Visa’s stagnating growth. In a post on the X platform, he presented a graph that illustrates Visa’s transaction volumes remaining flat from 2013 to 2023, while stablecoin transactions have seen a dramatic increase, particularly since mid-2016. What Factors Contribute to Stablecoin Growth? The recent surge in stablecoin transactions, especially after 2016, highlights their increasing acceptance and utility in the financial landscape. The contrast with Visa’s stagnant growth reinforces the expanding relevance of stablecoins, suggesting a shift in consumer preference towards digital currencies. Can Bitcoin Compete with Traditional Payment Systems? Armstrong’s analysis also shed light on Bitcoin‘s transaction volumes, which, while fluctuating, generally rose since 2013. Presently, Bitcoin’s volume is comparable to that of PayPal, indicating its growing recognition as not just an investment, but also as a viable payment alternative. Stablecoin transaction volumes have surged significantly since 2016. Visa’s transaction volumes have remained relatively unchanged during this period. Bitcoin is increasingly viewed as both an investment and a payment method. Traditional systems like Fedwire continue to outperform both stablecoins and Bitcoin in transaction volumes. The trends highlighted by Armstrong signal a robust competition between digital currencies and traditional financial structures, suggesting a future where stablecoins could rival established systems like Visa in transaction volumes. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/coinbase-ceo-reveals-surge-in-stablecoin-usage

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Filed under: News - @ November 15, 2024 12:27 pm