With improvements in blockchain scalability, stablecoins have emerged as the leading use case for blockchains, particularly for cross-border payments, analysts led by Gautam Chhugani wrote.
U.S. dollar denominated stablecoins on crypto rails are now the cheapest method of cross-border payments, at a cost of only 1-2 basis points, the report said.
Bernstein noted that the Bridge deal is the largest crypto acquisition by a major payments company to date.
This deal highlights the growing recognition of stablecoin-based payments and their compelling benefits, investment bank Architect Partners said.
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