Stablecoin on-chain settlements have reached over $7 trillion in 2022 and experts believe that it might surpass the Visa transaction settlement volume of $12 trillion by 2023.
Stablecoins play a very critical role in the crypto economy today and despite the recent run-down in the broader market, stablecoin volumes continue to dominate most exchanges.
Peter Johnson, co-head of the venture at Brevan Howard Digital, said that stablecoin settlements had already surpassed MasterCard and American Express. Furthermore, he predicted that in 2023 on-chain stablecoin volumes will surpass the Visa transaction volumes. Hmm kinda comparing apples and oranges. Mastercard/discover etc volumes are sourced from consumer spending. Onchain volume is sourced from investor speculation.
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