Chamath Palihapitiya, CEO of Social Capital, predicts that stablecoins will soar in adoption by 2025 and become a key tool for wholesale trading. He points out that by 2024, stablecoin usage will decouple from cryptocurrency trading, with over 1.1 billion transactions and settlement amounts reaching $8.5 trillion, more than twice the transaction volume of Visa. Palihapitiya believes that this growth will challenge the duopoly of Visa and Mastercard, especially as credit card rates rise. He also discussed regulatory issues, emphasizing that blockchain technology provides transparency and traceability for transactions. Last year, he predicted that Bitcoin would achieve mainstream adoption by 2024.
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Social Capital CEO: Stablecoins will become a key tool for wholesale transactions by 2025
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