The cryptocurrency market is exploding, and the number of transactions processed in digital assets are growing at an exponential rate. According to Juniper Research’s latest report, “The Future of Stablecoins,” stablecoins will surpass all major card networks worldwide by 2023.
Stablecoin settlements can surpass all major card networks worldwide in 2023, according to a new report by Juniper Research.
The research firm released its latest publication for cryptocurrency and blockchain, entitled Stablecoins: A fresh start for the crypto economy. The report was based on a number of assumptions, including that each stablecoin will have at least 1 million users within five years. It also assumes that half of those users will be spending their money through e-commerce companies who accept stablecoins as payment method.
According to Juniper’s data, this would mean that stablecoin transactions would surpass all major card networks such as Visa or MasterCard worldwide in 2023.
Stablecoin Might Be On The Top
With the growing popularity of stablecoins and their increasing adoption by various industries, it is highly likely that they will surpass all major card networks worldwide in 2023. This is because stablecoins are a good alternative to fiat currency. The currencies are backed by a reserve of another cryptocurrency or token, which makes them more reliable than the dollar or euro. In addition, they can be used to facilitate cross-border transactions without having to worry about exchange rates or any other complications associated with traditional payment systems like Visa and Mastercard.
The report also reveals that in the second half of 2019, stablecoins will make up 10 percent of all digital transactions in the U.S., with this figure rising to 21 percent by 2022.
