The tweet was deleted by the author.
But we saved everything 🙂.
Stripe and PayPal drive stablecoin surge to $230 billion, says Polygon Labs CEO
Stablecoins have surged into a $230-billion industry—now equivalent to more than 1% of the U.S. money supply—as major payment providers drive their adoption.
Key Takeaways
- The stablecoin market has reached $230 billion, equivalent to over 1% of the U.S. money supply.
- Payment giants like Stripe and PayPal are key drivers behind stablecoin adoption.
- PayPal’s PYUSD surpassed a $1 billion market cap shortly after launch.
- Stripe integrated stablecoins and acquired Bridge Network for $1.1 billion
According to Marc Boiron, CEO of Polygon Labs, companies like Stripe and PayPal are the primary catalysts behind this growth. PayPal began its digital asset journey in 2022, enabling transfers of Bitcoin, Ether, and other tokens, and later launched its US dollar-pegged stablecoin, PayPal USD (PYUSD), which quickly surpassed a $1 billion market capitalization. “The shift toward digital currencies requires a stable instrument that is both digitally native and easily connected to fiat,” said PayPal CEO Dan Schulman, reports CNBC.
Innovation and future outlook
Meanwhile, Stripe has also integrated stablecoins into its ecosystem through its Pay with Crypto feature, which allows businesses to accept payments in USD Coin (USDC) on Ethereum, Solana, and Polygon. Further signaling its commitment, Stripe acquired stablecoin startup Bridge Network for $1.1 billion in October. Traditional businesses and institutions are increasingly attracted to stablecoins, thanks to new regulatory frameworks in Europe and a shift in U.S. policy that is gradually softening regulatory stances. These developments are prompting non-crypto native businesses to explore digital payment rails that bypass traditional fee structures, especially for remittances.
USDC Marcket Cap. Source: CoinGecko
Innovations in the space are not limited to payment integrations. Polygon’s proof-of-stake chain, for instance, saw its stablecoin supplies jump 14% in the fourth quarter to exceed $2 billion. Yield-bearing stablecoins are gaining traction as well, with the SEC recently greenlighting Figure Markets’ YLDS, offering a 3.85% annual percentage rate. Tether co-founder Reeve Collins is also planning to launch Pi Protocol, a decentralized stablecoin designed to offer yield. Boiron suggests that yield-bearing stablecoins—which merge traditional collateralization with decentralized finance yield—may represent the most promising development in this sector.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
Subscribe to TU news
Did you like the article?
Latest Crypto News
Weekly Top Bonuses
Top News
Top 5 companies for you
United States
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
Live News
