Integration with consumer platforms will lead to a “growth flywheel” for stablecoins – a type of cryptocurrency pegged to another asset, such as the U.S. dollar – allowing them to capture users and grow distribution beyond crypto native platforms, the report said.
“We expect major global financial and consumer platforms to issue co-branded stablecoins to power value-exchange on their platforms,” analysts led by Gautam Chhugani wrote.
Just this week, payments giant PayPal (PYPL) said it was entering the crypto market with its own dollar-pegged stablecoin, PayPal USD (PYUSD). This is a first for a major financial company. The Ethereum-based token will be available first on PayPal and then on Venmo, and can be exchanged for dollars at any time.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
- Source: https://www.fintechnews.org/stablecoin-market-to-grow-to-almost-3t-in-next-5-years/
- :is
- 31
- 33
- a
- Allowing
- Analysts
- and
- Another
- any
- AS
- asset
- At
- available
- BE
- Beyond
- by
- CAN
- capture
- Coindesk
- company
- consumer
- crypto
- cryptocurrency
- distribution
- Dollar
- dollars
- Ethereum-based
- exchanged
- expect
- false
- financial
- First
- For
- giant
- Global
- global financial
- Grow
- HTML
- HTTPS
- in
- issue
- IT
- ITS
- jpg
- lead
- Led
- major
- Market
- native
- next
- of
- on
- own
- payments
- PayPal
- pegged
- Platforms
- plato
- Plato Data Intelligence
- PlatoData
- power
- PYPL
- report
- s
- Said
- stablecoin
- Stablecoins
- such
- The
- their
- Them
- then
- this
- this week
- time
- to
- token
- type
- u.s.
- u.s. dollar
- USD
- users
- Venmo
- was
- week
- will
- with
- wrote
- years
- zephyrnet
More from Fintech News
Stibo Systems recognized as a Leader in the Product Information Management 2023 report by independent research firm
Source Node: 1925564
Time Stamp: Dec 14, 2023
Bloomberg analyst says Bitcoin could be kicking off new supercycle as BTC outperforms gold
Source Node: 1817885
Time Stamp: Mar 23, 2023
Blockchain technology: ETH, AVAX And Scorpion Casino the best Cryptos to buy?
Source Node: 1954978
Time Stamp: Mar 10, 2024
Global Marketing Automation Market Report 2023: Deployment, Channel, Enterprise Size, Solution, Application, & Regional Insights & Forecast 2022-2026 – ResearchAndMarkets.com
Source Node: 1914285
Time Stamp: Nov 16, 2023
Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Continues Its Investigation of Discover Financial Services (DFS) on Behalf of Investors
Source Node: 1589183
Time Stamp: Jul 22, 2022
Regulation and Regulatory Compliance are critical if Africa is to reap the rewards of interoperability
Source Node: 1757786
Time Stamp: Nov 18, 2022
Sustainable PropTech Canada Report Shows $1.5b Invested in Canadian Sustainable Property Technology
Source Node: 1606867
Time Stamp: Aug 3, 2022
Fruits Eco-Blockchain Project publica su hoja de ruta para el futuro y un mensaje de apoyo de la leyenda del boxeo y campeón mundial en ocho divisiones, Manny Pacquiao
Source Node: 1736737
Time Stamp: Nov 4, 2022
![Reltex Group Reviews: The Evolution of Online Trading [reltexg.com]](http://platoblockchain.com/wp-content/uploads/2024/01/reltex-group-reviews-the-evolution-of-online-trading-reltexg-com-300x139.jpg "Reltex Group Reviews: The Evolution of Online Trading [reltexg.com]")
Reltex Group Reviews: The Evolution of Online Trading [reltexg.com]
Source Node: 1937993
Time Stamp: Jan 17, 2024
Fintech cybersecurity: how to safely integrate products
Source Node: 1763960
Time Stamp: Nov 29, 2022