Stablecoins Are Challenging Wire Transfers - Here’s How PayFi Could Change Payments

TL;DR

• Stablecoins are becoming a serious payment rail, with adjusted transaction volume on track to exceed $10 trillion in 2025.
• PayFi uses stablecoins and smart contracts to reduce reliance on correspondent banks and automate payments.
• As Visa and Circle integrate blockchain settlement into established financial networks, the technology is moving closer to mainstream cross-border payments, although regulation and fiat conversion remain important challenges.
  

  ---

Stablecoins are moving beyond crypto trading and into global payment infrastructure. PayFi describes a model where stablecoins and smart contracts make money movement faster, programmable, and less dependent on correspondent banks.

Visa estimates adjusted stablecoin transaction volume was on track to exceed $10 trillion in 2025, while stablecoin supply reached $274 billion by December. Much on-chain activity involves exchanges and treasury operations, so the figures do not represent consumer payments alone. Still, the scale shows that stablecoins have become serious financial infrastructure. 

… Continue reading the full article at the original source below.