Executive Summary

The recent stablecoin meltdown amid the larger crypto crash has highlighted the need for regulation—which will help ensure the asset can provide the stability it was once known for. Payment incumbents must weigh the crash’s implications and closely monitor regulatory moves as they plan for short- and long-term crypto payments growth.

Key Question: How will the current stablecoin volatility affect crypto’s path forward?

KEY STAT: The number of US crypto payment users will reach 5.5 million in 2023—a jump of more than 350% in just three years. However, growth is being overshadowed by recent market volatility that’s intensifying skepticism among already wary consumers.