Stablecoin Payments Market Set to Quadruple to $50 Billion by 2028
The stablecoin payments market is expected to experience significant growth in the coming years. According to RedotPay, a Hong Kong-based company, global spending through stablecoin-linked cards will quadruple to around $50 billion annually by 2028.
This projection is based on current trends, with stablecoin card spending surpassing $1 billion in July, marking a record monthly level. The growth is driven by the increasing adoption of stablecoins for everyday payments, cross-border transactions, and treasury operations.
The use of stablecoins has expanded beyond crypto trading, with their primary attraction being the ability to move digital dollars or other fiat-linked value without exposing users to price volatility. In emerging markets such as Latin America and Africa, stablecoin adoption is being driven by practical shortcomings in existing financial systems, including high cross-border payment costs and limited access to dollar liquidity.