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How Stablecoins are Quietly Replacing Broken Banking Infrastructure
['Brian Mcgleenon', 'July', 'Min Read']
Yahoo Finance
Photo by BeInCryptoFor years, the loudest crypto narratives centered on corporate treasuries adding Bitcoin to their balance sheets, betting on price appreciation.
Today, stablecoins represent approximately 80% of SCRYPT's processed volume.
Looking back, we see around 80% of our trading volume or processed volume is stablecoins, which is a huge increase year on year."
With the hype of speculative bull runs stripped away, the core utility of stablecoins remains remarkably simple and highly effective.
The Cross-Border Pain Point: A Broken Legacy SystemTo appreciate why institutional interest in stablecoins is accelerating, one must look at the friction inherent in legacy correspondent banking.