How about a payments system running on blockchain technology that handles more money than Mastercard or Visa?
Stablecoins are cryptocurrencies designed to be worth exactly $1. And they can be transferred anywhere around the world, virtually for free.
Stablecoin volumes passed Mastercard last year. And with monthly transactions hitting $2 trillion, they’re on track to knock Visa off its payments perch this year.
More money now moves along crypto rails than on the world’s most widely used payment networks.
You probably take it for granted that you can access dollars whenever you want. Most folks around the world aren’t so lucky.
When I lived in Argentina, the locals were begging for dollars. They were always more than happy to swap their pesos for my greenbacks.
Digital dollars (stablecoins) are much easier to get your hands on than physical dollars.
They’re like offshore bank accounts for billions of people around the world who were helpless against money-printing governments eviscerating their hard-earned savings.
Mark my words: You’ll soon be using stablecoins too.
Just last week, payments giant Stripe integrated the USDC stablecoin into its platform. You can now buy billions of goods on the internet using crypto.
The advantage is stablecoin payments settle in seconds compared to days… and fees are fractions of a cent versus the standard 3% cut Visa takes.
Fast, cheap, global payments brought to you by blockchain technology. The financial middlemen are in trouble.
This isn’t some wild futurist prediction. It’s happening right now.
The majority of stablecoin transactions flow through Ethereum’s (ETH) blockchain. ETH holders profit from all the fees.
That’s one of the reasons we own Ethereum in my RiskHedge Venture portfolio.
Buy some ETH if you don’t already own it.
P.S: For more insights and analysis, I invite you to subscribe to my investing letter The Jolt⚡.
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