Traditional remittance giants like Western Union and MoneyGram are seeing a decline in app downloads and monthly active users, signaling a shift in consumer behavior. This drop is attributed to the growing popularity of stablecoins, which offer faster, cheaper, and more accessible cross-border transactions. Stablecoins, digital assets pegged to stable values like the US dollar, have become indispensable in regions with currency instability or limited access to reliable banking systems. The stablecoin market has surpassed $200 billion in capitalization, with innovative currencies like Ethena's synthetic USDe stablecoin emerging. Issuers like Tether and Circle have collectively earned over $664 million, representing a significant portion of revenue in the crypto industry. Stablecoins account for over 75% of recent crypto transactions. Traditional financial institutions and blockchain companies, including Ripple, are exploring ways to tap into this booming market. There is potential for traditional remittance giants to embrace stablecoin payments for their operations.



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