A new survey conducted by Visa, Brevan Howard, and Castle Island Ventures has found that stablecoins are finding real-world application beyond just speculative crypto trading.

The survey involved 2,500 users across five emerging market countries - Brazil, Nigeria, Turkey, Indonesia, and India - and found that of the $2.6 trillion worth of value settled in stablecoins so far in 2023, much of it had real-world application.

"We felt there was a lack of data around how folks are actually using stablecoins around the world, especially in emerging markets, so we commissioned a survey of 2500 users," said Castle Island's Nic Carter.

The survey found that stablecoins are the "killer app" of crypto, with an estimated $3.7 trillion worth of value settled using stablecoins in 2023 after accounting for noise from MEV trading, arbitrage, and other inorganic use cases.

Stablecoin usage appears to be growing, with $2.62 trillion settled in the first half of 2024, putting the sector on pace for $5.28 trillion in annual value settled.

Source: https://www.theblock.co/post/316048/survey-visa-brevan-howard-castle-island-ventures-stablecoins-real-world-application

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