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Major financial giants back stablecoin adoption. Visa and PayPal leaders voiced strong support at DC Fintech Week, stressing how stablecoins can change global payments. At the same event, Chainlink and Swift shared news of their blockchain breakthrough. Also Read: Michael Saylor’s Bold U-Turn: Embracing Self-Custody Amid Backlash How Visa and PayPal’s Stablecoin Adoption is Driving Crypto Milestones with Chainlink and Swift Major Financial Players Push for Integration Two key figures supported stablecoins. Visa’s crypto head, Cuy Sheffield, and PayPal VP Jose Fernandez da Ponte spoke about new uses beyond trading. They plan to cut costs and speed up global transfers. Both companies will soon add more stablecoin Features to their services, promoting stablecoin adoption in everyday transactions. Swift and Chainlink Break New Ground “The collaboration between Chainlink and SWIFT is a landmark achievement that underscores the potential of blockchain technology to revoluti...

While on-chain stablecoins settlements are growing rapidly, many people pointed out that comparing stablecoin settlements to Visa transactions is not fair as they represent two different things. Stablecoins play a very critical role in the crypto economy today and despite the recent run-down in the broader market, stablecoin volumes continue to dominate most exchanges. According to Coinmetrics data, on-chain stablecoin settlements reached over $7 trillion in 2022 and are expected to end the year at around $8 trillion. While the largest card network, Visa, processes ~$12tn/yr. Peter Johnson, co-head of the venture at Brevan Howard Digital, said that stablecoin settlements had already surpassed MasterCard and American Express. Furthermore, he predicted that in 2023 on-chain stablecoin volumes will surpass the Visa transaction volumes. He also noted that stablecoins volume would not only surpass Visa but most likely surpass the aggregate volume of all four major card networks (Visa, ...