tl;dr
Popular stablecoin payment app Wirex has expanded to the US market, allowing residents to use stablecoins for daily transactions via Visa Cards. This move is supported by a collaboration with Bridge, a leading stablecoin payment infrastructure provider. Regulatory developments in the US, focused on ...
Popular stablecoin payment app Wirex has expanded to the US market, allowing residents to use stablecoins for daily transactions via Visa Cards. This move is supported by a collaboration with Bridge, a leading stablecoin payment infrastructure provider. Regulatory developments in the US, focused on stablecoin regulations, could accelerate market growth. US lawmakers, industry players, and major financial institutions are actively participating in discussions to shape policies. Wirex's expansion into the US market is expected to drive higher transaction volumes and revenue growth.
Wirex's entry into the US market is supported by its collaboration with Bridge, a leading stablecoin payment infrastructure provider. Through this partnership, Wirex Pay enables users to transact directly from non-custodial wallets using cards and bank transfers while maintaining full control of their assets. Earlier in 2024, US payment giant Stripe acquired Bridge in a landmark $1.1 billion deal. With Wirex’s expansion, US consumers can now use stablecoins at over 80 million Visa-accepting merchants across 200 countries. Wirex Pay’s co-founder highlighted the US as a key market due to its large base of active crypto users. They anticipate strong adoption in 2025 as stablecoins gain wider acceptance. This move is expected to drive higher transaction volumes and contribute significantly to revenue growth.
US lawmakers are increasingly focused on stablecoin regulations, which could accelerate market growth. In February, CFTC Commissioner Caroline Pham announced a CEO Forum to develop crypto regulations, strongly emphasizing stablecoins. Leading industry players, including Circle, Coinbase, and Ripple, are participating in discussions to help shape policies through a regulatory framework. Meanwhile, Bank of America is also monitoring developments closely. CEO Brian Moynihan stated that the bank could introduce a stablecoin if favorable regulations are enacted. Also, the stablecoin market recently surpassed a record $225 billion market cap. Regulatory clarity could push adoption further. Ultimately, this would help integrate stablecoins more deeply into mainstream finance. More web3 businesses will likely look to expand into the US market as regulatory developments continue to unfold.