Stablecoins are being used for remittance payments and streamlining cross-border transactions, attracting more users to the ecosystem and leading to the emergence of new players like Ripple.
Additionally, this growth indicates rising institutional interest in the crypto space. Stablecoins now represent approximately 50% of the total transaction volume among major cryptocurrencies, while their total market capitalization reached a new all-time high of nearly $170 billion in August.
Crypto developers are increasingly incorporating stablecoins into existing payment systems to facilitate more use cases for digital assets in traditional finance.
The stablecoin market is experiencing substantial growth, with Tether USD (USDT) and USD Coin (USDC) playing a significant role in this expansion. USDT currently accounts for nearly 70% of the stablecoin market cap, while USDC has also seen substantial growth, recording an over 41% boost in market size.
