According to BlockBeats, on September 23, K33 Research analyst David Zimmerman highlighted the ongoing practical applications of cryptocurrencies despite skepticism fueled by the meme coin craze. Zimmerman pointed out that the actual use cases for cryptocurrencies are already evident if one looks closely at the market developments.
The market capitalization of stablecoins recently reached $175 billion, underscoring their importance in emerging markets. Stablecoins serve as crucial financial tools for people in these regions, helping them avoid hyperinflation in their local currencies and circumvent exorbitant remittance fees. This growing adoption signifies the practical utility of cryptocurrencies beyond speculative trading.
In a significant move, Mastercard has partnered with Mercuryo to enable users to spend their self-custodied cryptocurrencies at over 100 million merchants. Additionally, PayPal and Venmo have integrated Ethereum Name Service, allowing users to transfer cryptocurrencies using readable names instead of traditional wallet addresses. These integrations are making cryptocurrency transactions more accessible and user-friendly.
The DePIN project Helium has collaborated with major telecom companies, resulting in 113,000 registrations for its mobile service. This indicates a shift where a substantial number of users are opting for cryptocurrency-based services over traditional providers like Verizon. Such partnerships highlight the growing acceptance and integration of cryptocurrencies in mainstream services.
Telegram, with nearly 1 billion monthly active users, has integrated the Open Network (TON), enabling users to transfer cryptocurrencies as easily as sending text messages. Similarly, the Asian messaging app LINE, which boasts over 230 million monthly active users, is implementing a comparable plan with Kaia. These developments reflect the increasing ease of cryptocurrency transactions and their integration into everyday communication platforms.
XingChi