News Explorer — Visa-Funded Study Shows Stablecoins Growing US Dollar Adoption Overseas

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Sep 12, 9:16 pm

Decrypt

Visa-Funded Study Shows Stablecoins Growing US Dollar Adoption Overseas

A new report sponsored by Visa reveals that stablecoins are increasing the dominance of the U.S. dollar in countries where access to the currency is limited. Stablecoin adoption is rising independently of crypto market cycles and is being used as a monetary instrument for purposes unrelated to digital asset trading. Stablecoin volumes reached $461 billion in August, surpassing any point from the 2021 bull market, indicating their growing popularity.

A new report sponsored by Visa reveals that stablecoins are increasing the dominance of the U.S. dollar in countries where access to the currency is limited. Stablecoin adoption is rising independently of crypto market cycles and is being used as a monetary instrument for purposes unrelated to digital asset trading. Stablecoin volumes reached $461 billion in August, surpassing any point from the 2021 bull market, indicating their growing popularity.

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