Chainalysis: Stablecoin adoption in the U.S. slows in 2024 compared to global markets

In its latest report on North American cryptocurrency adoption trends, Chainalysis said that stablecoin adoption in the United States slowed in 2024 compared to global markets. This year, there has been a significant shift in stablecoin activity in the U.S. market, with the share of stablecoin transactions on U.S.-regulated exchanges falling from about 50% in 2023 to less than 40% in 2024. In contrast, the share of stablecoin transactions on non-U.S. regulated platforms has grown significantly since 2023 and will exceed 60% in 2024. Chainalysis emphasized that this shift does not necessarily indicate a sharp decline in U.S. stablecoin activity, but rather reflects the rapidly expanding role of stablecoins in emerging markets and non-U.S. jurisdictions. Chainalysis said that as more countries develop regulatory frameworks to encourage the adoption of stablecoins, U.S. policymakers are under increasing pressure to act. (Cointelegraph)