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Federal Reserve Report: Stablecoins Primarily Trading Tools, Payment Adoption Minimal

A recent analysis from the Federal Reserve Bank of Kansas City indicates that stablecoins are overwhelmingly utilized as a cryptocurrency trading and liquidity tool within the digital asset market, rather than for mainstream payments. The report estimates approximately 49% of the stablecoin supply supports trading liquidity across centralized exchanges, DeFi protocols, and broader crypto infrastructure. An additional 29% facilitates wallet-to-wallet transfers, while less than 1% is dedicated to real-world payment applications. The study highlights significant hurdles for stablecoin payment scalability, including cross-chain interoperability limitations and insufficient integration with traditional financial systems. While payment networks like Mastercard and Visa anticipate supporting related technologies by 2026, widespread stablecoin payment adoption remains in its nascent stages, contingent on resolving key technical and regulatory challenges.
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