Crypto’s $205 Billion Stablecoin Market Set to Go Mainstream
(Bloomberg) — While Bitcoin’s surge above $100,000 captivated the headlines in 2024, many financial firms were more focused this year on a different type of cryptocurrency whose price is never meant to rise — or fall for that matter.
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Mainstream players such as Visa, PayPal Holdings Inc., Stripe Inc. and others are making investments in projects involving stablecoins, which are crypto tokens typically designed to be pegged to the value of the US dollar or another traditional currency.
This sub-sector of the digital-asset space has proven to be a lucrative business, now that issuers are able to invest reserves backing stablecoins in short-term US Treasuries with attractive yields. And unlike Bitcoin and…
