TechFlow, May 12 — According to a Cointelegraph report, the latest report from the Bank for International Settlements (BIS) indicates that the total value of global cross-border cryptocurrency payments has reached approximately $600 billion, primarily driven by speculative investments. The report analyzed cross-border flows of major cryptocurrencies such as Bitcoin, Ethereum, and stablecoins like USDT and USDC, finding that the "interconnectedness" between crypto markets and traditional financial systems is increasingly strong. Although speculative activities dominate, stablecoins and low-value Bitcoin transactions are also widely used as practical payment tools in high-inflation countries and regions with high remittance costs. The United States and the United Kingdom account for 20% of cross-border Bitcoin and USDC payments, while Russia and Turkey account for over 12% of cross-border USDT transactions.
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