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Portfolio company TradeBlock has found the transaction volume on the top four digital stablecoins (based on on-chain volume) is now averaging $116m per day, nearly 75% of the transactional volume of the $158 done through Venmo.
Stablecoins have received significant attention in the digital currency space – and even outside of it – heralded as possible disruptors to traditional payment servicing companies such as Venmo/PayPal. In Q3 2018, several new stablecoins were launched to much fanfare. To compare a traditional payment processing platform vs new stablecoin offerings, we analyzed the daily average on-chain transaction volume that was transferred across four of the largest new stablecoins vs the daily average total payment volume that was transferred across the Venmo platform. Venmo’s total payment volume figures are published in PayPal’s annual and quarterly reports (Venmo is a subsidiary of PayPal).
https://tradeblock.com/blog/the-hard-fork-weekly-market-commentary-11
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