Stablecoins: The Essential Building Blocks for Modern Payments

Stablecoins have rapidly emerged from the fringes of cryptocurrency to the forefront of the payments industry. In 2024, the total on-chain transaction volume of stablecoins reached over $27 trillion, surpassing the combined volume of Visa and Mastercard payments. This staggering figure underscores a simple reality: stablecoins – digital currencies pegged to stable assets – are becoming indispensable in how money moves around the world. By combining the reliability of traditional fiat money with the speed and programmability of blockchain, stablecoins offer a new paradigm for payments.