Stablecoins Move Over $400 Million Per Hour With Off-Hours Transfers Dominating
(2 hours ago) · 1 source · Summarized by CryptoBipto
A joint study by Coinbase and The Block found that stablecoins now move more than $400 million per hour on average. The research highlights that a significant share of these transfers occurs outside traditional banking hours, suggesting stablecoins are filling gaps left by conventional financial systems.
WHY IT MATTERS
Stablecoins are a type of cryptocurrency that tries to keep a steady price, usually matching one US dollar per coin. Think of them like digital dollars that can be sent over the internet without needing a bank. This study suggests that people and businesses are using stablecoins heavily during times when traditional banks are closed — like nights and weekends. In the traditional financial system, sending money outside of business hours can be slow or impossible, similar to how a post office closes at 5 PM. Stablecoins operate on blockchains that run 24/7, so transfers can happen anytime. The scale of the activity — over $400 million per hour — indicates that stablecoins have become a significant channel for moving money globally.
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- theblock.co
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