TechFlow reported, according to BitcoinSistemi, that payments giant Visa, together with Brevan Howard and Castle Island Ventures, has released a research report titled "Stablecoins: The Emerging Markets Story." This report provides the first comprehensive tracking of stablecoin usage in practice, surveying 2,500 users across five emerging markets: Brazil, Nigeria, Turkey, Indonesia, and India.
The study reveals that stablecoin transaction volume reached $2.6 trillion in the first half of 2024, with an estimated annual total of $5.28 trillion—surpassing 2023's $3.7 trillion. Fifty-seven percent of users increased their stablecoin usage over the past year, and 72% expect this trend to continue. The report highlights that stablecoins are increasingly becoming a "core application" within the cryptocurrency ecosystem, serving practical roles in currency exchange, remittances, and payments for goods and services.
Further findings show that stablecoin transactions on public blockchains now account for 70% to 80% of total settlement value. Despite fluctuations in overall crypto market trading volumes, the number of monthly active stablecoin users continues to grow, consistently setting new all-time highs and demonstrating a decoupling trend from the broader cryptocurrency market.
