Stablecoins are now one of the fastest-growing areas of the crypto world. They grew at an incredible 49% clip last year, and show no signs of slowing down anytime soon. The two stablecoin behemoths — Tether (USDT +0.03%) and USDC (USDC +0.01%) — now have a combined market cap of $250 billion.
But top executives at Visa (V +0.81%) and Mastercard (MA 0.57%) don’t see it that way. In earnings calls this year, they dismissed the utility of stablecoins. As they see it, there simply is not any real demand for them from consumers, and their usage is limited beyond just cross-border payments. So should crypto investors be concerned?
