Stablecoins Overtake Visa in Transaction Volume for the First Time
Date: 2025-04-18 Author: Henry Casey Categories: CRYPTO PAYMENTS
For the first time ever, the volume of annual transactions involving stablecoins has surpassed Visa. According to Bitwise analytics, in 2024, the total volume of stablecoins reached an impressive $14 trillion, while Visa remained at around $13 trillion. In comparison, in 2023, stablecoins lagged behind, with an annual volume of only $7 trillion. Such a sharp increase suggests that stablecoins are becoming a full-fledged instrument for international payments, especially given their low fees, speed of transfers, and 24/7 availability.
Bitwise Investment Director Matt Hougan attributes this dynamic to several important events. For example, former US President Donald Trump has taken an openly crypto-friendly stance, which was reflected in his March executive order to create a national bitcoin reserve. The regulatory climate has also improved: the US Securities and Exchange Commission has dropped a number of lawsuits against leading crypto companies, which has reduced pressure on the industry.
According to Hougan, financial institutions used to be wary of working with crypto businesses due to the lack of clear regulation. Now, on the contrary, there is an opportunity to integrate cryptocurrencies into the traditional economy, something the crypto industry has dreamed of for many years.
However, the positive news background did not save the market from falling. The Bitwise 10 Large Cap Crypto Index recorded an 18% decline, and Ethereum, the second-largest cryptocurrency, lost almost half of its value - 45%. Despite this, Hougan is confident that stablecoins will not only maintain their positions, but will also continue to strengthen.
His words are confirmed by statistics: the volume of funds placed in stablecoins reached a historical record of $218 billion, which is 13.5% higher than in the previous quarter. At the same time, transaction activity increased by 30.14%.
Hougan has previously stated that altcoins are going through difficult times, since there are no significant new products on the market that can attract wide attention. The only chance for revival, in his opinion, could be a new surge of interest in meme tokens.
