CandleFocus Fireblocks Surpasses $3 Trillion in Transfers, with Stablecoins Accounting for Over 50%
2024-12-25
Author: Content Editor
The future of digital payments was discussed at the Blockchain Expert conference in Tel Aviv, where experts predicted that all payments worldwide will be instantaneous within a few years. Fireblocks, a major blockchain processing company, revealed that over 50% of their client transfers are made using stablecoins like USDT and USDC. Payment industry expert Daal Shalev stated that while Bitcoin was initially revolutionary for cross-border payments, it has lost its edge as fiat systems have advanced. Shalev also discussed the challenges and potential of central bank digital currencies (CBDCs). PayPal's Head of Blockchain and Digital Currencies introduced PYUSD, a stablecoin that offers instant and cheaper transfers. Shalev highlighted that banks need to modernize their systems to meet customer expectations for fast and low-cost transactions. The introduction of CBDCs is seen as a game-changer, offering governments greater power and control over money. Overall, cryptocurrency is seen as a significant driver of payment innovation, leading to competition and benefits for citizens.
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