Tether has reportedly surpassed Visa and Mastercard in terms of transaction volume in 2022

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.

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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.