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TRON Leads Real-World Stablecoin Payments As Tether Dominates Use
HomeNews* Stablecoin real world payment volume reached an annualized $72 billion in February, according to Artemis.
Tether made up the majority of these payments, accounting for 90% in January and 86% in February. This is significantly higher than its 71% market capitalization compared to USDC. As stated in the report, Tether has a higher velocity of payments, with “the volume of payments [in the past 24 hours] representing 26.6% of its market capitalization vs. USDC’s 10.8%.” The report notes that this is true for both crypto and real world transactions.
The TRON blockchain processed the most real world stablecoin payments, not only in emerging markets like Africa, Asia, and Latin America, but also in transactions sent from the United States and Europe. The report credits this trend to the payment’s final destination. For example, payments from Singapore to China mostly use TRON because China prefers it, even though Singapore mainly uses Ethereum.
Initially, TRON attracted users due to its low costs and ability to handle large transaction volumes. However, costs have increased, with TRON now charging several dollars per payment while other major blockchains charge only cents. Some companies lower their fees by staking TRON tokens to gain access to “energy,” the blockchain’s version of transaction credits.
Ethereum was the second most used blockchain for real world payments. It led payment flows in Nigeria, and was also dominant in other African countries like Uganda, South Africa, and Kenya, as well as in Peru and Argentina in Latin America. In Brazil, however, TRON had a much larger share of payment activity.
The report, produced with input from Castle Island Ventures and Dragonfly, highlights how real world stablecoin payment trends differ from expectations, with Tether and TRON taking leading roles. It also shows that blockchain choice often depends on the requirements and preferences of the payment’s destination country, not only the country of origin.
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