The popular Stablecoin Payment App Wirex has recently expanded to the US market. The app allows residents to use stablecoins for daily transactions via visa cards.
Like Wirex, many other Web3 platforms are increasingly urging lawmakers to enter the US market as lawmakers are seeking clarity in Stablecoins’ regulations.
Across 80 million merchants, we use Stablecoins to use Stablecoins
Wirex’s entry into the US market is supported by a collaboration with Bridge, a leading Stablecoin Payment Infrastructure Provider.
Through this partnership, Wirex Pay allows users to trade directly from inappropriate wallets using card and bank transfers, while maintaining complete control of their assets.
“While regulatory clarity is always beneficial for innovation, our expansion into the US market is driven primarily by increased consumer demand for stable payments and increased adoption of digital assets for everyday transactions.”
In early 2024, US payment giant Stripe acquired the bridge in a $1.1 billion deal at the landmark. With Wirex expansion, US consumers can now use Stablecoins with more than 80 million visa acceptance merchants in 200 countries.
Wirex Pay’s co-founders emphasized the US as a key market due to its large foundation for active crypto users. They expect strong adoption in 2025 as stubcoin gains wider acceptance.
This move is expected to drive higher trading volumes and contribute significantly to revenue growth.
“It’s too early to provide accurate forecasts, but we believe that the US launch of Wirex Pay will become an important growth driver for us in the coming years,” the co-founder said.
Regulation development to form the US stubcoin market
US lawmakers are increasingly focusing on regulating stubcoins, which could accelerate market growth.
In February, CFTC Commissioner Caroline Pham highlighted Stablecoins and announced a CEO forum for developing crypto regulations.
Players from major industries such as Circle, Coinbase, and Ripple are taking part in the discussion to help shape policies through regulatory frameworks.
Meanwhile, Bank of America is also closely monitoring development. CEO Brian Moynihan said banks could introduce stables if positive regulations were enacted.
The Stablecoin market has also recently surpassed its record market capitalization of $225 billion. Clarity of regulations could drive further adoption.
Market capitalization of Stablecoin. Source: Defilama
Ultimately, this will help you integrate stubcoins deeper into mainstream finance. As regulatory development continues to roll out, more web3 companies will be aiming to expand into the US market.
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