Stablecoins Settled as Much Value as Visa in 2022: Analysis

Stablecoin payment adoption continued to thrive last year despite massive capital outflows from the crypto market at large, according to a new report from European hedge fund manager Brevan Howard.

Blockchains included Ethereum Tron, Binance Smart Chain , Polygon, Optimism, Arbitrum, Fantom, and Avalanche. The stablecoins analyzed included USDT, USDC, BUSD, and TUSD – all of which are backed by bank deposits, US Treasuries, and other highly liquid cash equivalents.Usage of such tokens, it noted, “has decoupled from crypto exchange volumes.

The report claimed that most stablecoin users are likely “small/retail users”, given that 75% of weekly active stablecoin addresses transact less than $1000 per week. Over two-thirds of stablecoins are held outside of both exchanges and smart contracts.

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