Crypto and Stablecoins Transforming Global Value Transfer
The keynote speech emphasized how crypto has addressed one of the oldest inefficiencies in the financial system: cross-border payments.
For decades, transferring money internationally has been slow, expensive, and limited. Today, stablecoins and blockchain networks enable:
Instant global settlement
A fraction of the cost of legacy transfers
24/7 movement across borders
No dependence on bank hours
"This is a transformation for billions of people," he said, noting that the last 12 months have been a "record" for the entire digital asset industry.
Stablecoins Surpass Visa Volume as Adoption Accelerates Globally. Highlighting one of the most striking metrics this year, the minister noted:
Stablecoin market cap has grown nearly 50%
Stablecoin wallet holders increased by 50% to 130 million Daily stablecoin settlement volume surpassed Visa in 2024 Tether alone recorded a peak daily settlement of $10B
He added that regulatory clarity in the United States and other jurisdictions is accelerating adoption and paving the way for regulated stablecoin issuers, which he described as a turning point for global finance.
