Bloomberg Data Shows Stablecoins Transact Over $6.8T, Topping PayPal By Coin Edition

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Bloomberg Data Shows Stablecoins Transact Over $6.8T, Topping PayPal

Published Aug 28, 2023 09:59

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Bloomberg Data Shows Stablecoins Transact Over $6.8T, Topping PayPal

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Coin Edition -

Stablecoins processed over six trillion-dollar transactions in 2022.

The figure outpaced traditional payment companies.

Bloomberg projects a 3596% growth in stablecoin with PayPal (NASDAQ:PYPL) stablecoin adoption.

Recently, Jamie Coutts, a crypto market analyst at Bloomberg Intelligence, spotlighted the place of stablecoin in processing trillion-dollar transactions.

According to Coutts, stablecoins made significant strides in the digital money evolution. The analyst noted that the crypto coins surpassed established players like Mastercard (NYSE:MA) and PayPal.

In particular, the analyst revealed that stablecoins on various Layer-1 crypto networks transacted $6.87 trillion in 2022. According to him, the figure outpaced the stride of traditional payment companies.

Stablecoin Payments Overtook Mastercard in 2022

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Bloomberg Data Shows Stablecoins Transact Over $6.8T, Topping PayPal

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