USDT, the biggest stablecoin in terms of market capitalization, has flipped top payment processors Visa and Mastercard in terms of settlement volume, according to a recent tweet by Tether.
According to the tweet, USDT processed about $18.2 trillion in transactions in 2022, while the settlement volumes of Visa and Mastercard are $14.1 trillion and $7.7 trillion respectively.
USDT is the dominant stablecoin in the market with a market capitalization of $67 billion. Its major competitor Circle’s USD Coin (USDC) a market cap of $43 billion.