Stablecoin Transactions on Blockchain Reach $35 Trillion, Report Finds

Stablecoins facilitated over $35 trillion in transactions on blockchain last year, according to ChainCatcher. However, a report by McKinsey and Artemis Analytics reveals that only about 1% of these transactions were used for real-world payments. The analysis estimates that merely $380 billion of the activity involved actual payments, such as vendor payments, remittances, or salary disbursements. This represents a small fraction of the global payment total, accounting for approximately 0.02% of the worldwide payment volume, which McKinsey estimates to exceed $20 trillion annually.