Crypto Payments Are Going Parabolic

The growth chart for crypto card usage does not merely resemble a parabola. It clearly is one.

This is especially obvious in the chart Cointelegraph shared today, based on calculations by The Kobeissi Letter.

Crypto assets are becoming more and more like money. They are being used for money's primary purpose: payments. Of course, this is especially true for assets that were designed from the start as tokenized money - stablecoins.

And at this point, it no longer really matters that many stablecoin issuers stress in their terms of use that these tokens are not legal tender, and that nobody guarantees they will be accepted as payment for goods and services. If a crypto card is linked to a wallet holding stablecoins, that already comes very close to a guaranteed ability to pay. The only difference is that this guarantee is provided not by the token issuer, but by the payment service provider.

It looks like it is time for me to stop describing BTC-to-USDT or USDC-to-XMR exchanges on rabbit.io as "swaps".

A BTC-to-USDT exchange can already be called selling bitcoin. And a USDC-to-XMR exchange can be called buying Monero.

Because in today's world, both USDT and USDC function as real money.