JPMorgan: The growth in stablecoin usage outpaces their market capitalization due to increased circulation


JPMorgan notes that stablecoin transaction volumes are growing faster than their total market capitalization because the same tokens are being transferred more frequently between users, reducing the need for additional issuance.
Currently, transfers between individuals dominate circulation, but payments to businesses and at retail locations are increasing faster, with Asia remaining the largest region in terms of usage.
The growth of payment applications accelerated after the US passed the GENIUS Act, and a16z crypto believes that the term "stablecoin" is becoming outdated as the technology evolves into a fundamental financial infrastructure.
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