Hundreds of billions of dollars in cross-border cryptocurrency payments flow globally, driven primarily by speculative investment, according to a recent report by the Bank for International Settlements (BIS).
The BIS study, data-ct-non-breakable=”null” href=”https://www.bis.org/publ/work1265.pdf” rel=”nofollow noopener” target=”_blank” text=”null” title=”https://www.bis.org/publ/work1265.pdf”>published May 8, found cross-border payments using the two largest cryptocurrencies, Bitcoin ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/bitcoin-price” rel=”null” target=”null” text=”null” title=”null”>BTC) and Ether ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/ethereum-price” rel=”null” target=”null” text=”null” title=”null”>ETH), and the two largest stablecoins, USDt ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/tether-price-index” rel=”null” target=”null” text=”null” title=”null”>USDT) and USDC ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/usdc-price-index” rel=”null” target=”null” text=”null” title=”null”>USDC), totaled about $600 billion during the second quarter of 2024, the final observation period covered by the analysis.
“Our findings highlight speculative…
