Max Krupyshev, CEO of CoinsPaid, discussed the future of crypto payments and the significance of stablecoins in addressing volatility issues in the cryptocurrency market.

Stablecoins to Solve Cryptocurrency Volatility Issue

In an interview with CasinoRIX, Max Krupyshev, CEO and Co-Founder of CoinsPaid, shared insights on stablecoins as “an effective tool to negate the inherent volatility of cryptocurrencies.”

According to Max, stablecoins are currently the most widely used assets for payments, leading in transaction volume. CoinsPaid’s internal data for 2023 reveals that about 73% of total transaction volume involved stablecoins, with only 19% attributed to BTC. Krupyshev also highlighted that around 72% of stablecoin transactions were made using USDT. 

In his opinion, the trend of increasing stablecoin usage for payments will continue in 2024, as stablecoins offer a solution to one of the main challenges of cryptocurrencies — volatility.

During the interview, Krupyshev shared some interesting observations, namely:

  1. The growing interest in cryptocurrencies is directly linked to the increase in credible sources of information and, consequently, the growing trust in digital assets.
  2. The crypto payments sector is rapidly expanding due to the increasing demand for payments using digital assets among businesses and their customers.
  3. There’s a surge in the adoption of cryptocurrency payments across industries such as e-commerce, software, luxury retail, hospitality, and automotive.
  4. Europe is the most active region in terms of crypto payment adoption.
  5. Clear regulatory frameworks, ensuring transparency, protection, and security of crypto payments, will be crucial for the popularization of cryptocurrencies.

CoinsPaid was recognized as the best European blockchain company in 2023, and CryptoProcessing by CoinsPaid became the leading payment gateway in the region.

Author: Molly Wilson
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