Stablecoin settlements can surpass all major card networks in 2023

According to Coin Metrics data, on-chain stablecoin settlements reached over $7 trillion in 2022 and are expected to end the year at around $8 trillion. While the largest card network, Visa, processes approximately $12 trillion/year.

Peter Johnson, co-head of the venture at Brevan Howard Digital, said that stablecoin settlements had already surpassed Mastercard and American Express. Furthermore, he predicted that in 2023 on-chain stablecoin volumes will surpass the Visa transaction volumes.