{"id":5152,"date":"2025-01-27T14:33:35","date_gmt":"2025-01-27T12:33:35","guid":{"rendered":"https:\/\/www.dhcab.com\/?p=5152"},"modified":"2025-01-27T14:33:35","modified_gmt":"2025-01-27T12:33:35","slug":"tether-usdt-tops-salary-payments-savings-in-eu-in-2024","status":"publish","type":"post","link":"https:\/\/www.dhcab.com\/?p=5152","title":{"rendered":"Tether USDt Tops Salary Payments & Savings In EU In 2024"},"content":{"rendered":"
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Tether USDt Tops Salary Payments & Savings In EU In 2024; Brighty<\/p>\n

Authored by Helen Partz via CoinTelegraph.com,
Tether USDt, the world\u2019s largest stablecoin by market capitalization, was the most widely used currency for salary payments and savings on the European crypto banking platform Brighty in 2024,\u00a0according to a new report.
Brighty\u2019s \u201cCrypto Earners\u2019 Money Habits\u201d report, shared with Cointelegraph, revealed that USDt accounted for 85% of all crypto deposits on the platform.
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The stablecoin also ranked as the second-largest savings asset after the euro, representing 33% of all business-to-customer (B2C) savings.
Brighty\u2019s insights on money habits by crypto earners are based on data extracted from its base of 200,000 users for 2024 and additional surveys of 400 crypto earners across the European Union.<\/p>\n

Tron-based USDT is the winner<\/p>\n

While USDT enjoyed overwhelming dominance among crypto earners, rival stablecoin USD Coin only accounted for 5% of all B2C deposits by earners on Brighty last year.
Bitcoin, the largest cryptocurrency by market cap, saw a similar share of 5%.
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The share of currency\/digital currency on Brighty\u2019s deposits, withdrawals and card payments. Source: Brighty
According to Brighty\u2019s data,\u00a0TRC-20 USDT\u00a0\u2014 USDT issued on the Tron blockchain \u2014 was the dominant stablecoin on the platform, accounting for more than 60% of overall USDT transactions on the platform.
The dominance of TRC-20 USDT is attributed to lower fees for transacting the stablecoin, as\u00a0ERC-20 USDT\u00a0\u2014 Ethereum-based USDT \u2014 has been associated with higher network fees.
The data aligns with Brighty\u2019s survey results, as at least 70% of respondents cited lower transaction fees as a reason for using crypto for payments more frequently.
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Reasons for using crypto for payments by Brighty\u2019s survey respondents. Source: Brighty<\/p>\n

Brighty expects a \u201cchallenging transition to USDC\u201d<\/p>\n

Brighty\u2019s data raises questions in the context of the European crypto framework known as\u00a0Markets in Crypto-Assets (MiCA), suggesting a potential massive switch in USDT\u2019s dominance.
While Tether\u2019s rival Circle received a MiCA license for issuing its USDC stablecoin last year,\u00a0Tether has opposed some MiCA requirements, effectively distancing itself from compliance. As such, European crypto asset service providers (CASP) might have to restrict USDT as a\u00a0noncompliant MiCA stablecoin, according to some industry observers.
\u201cHistorically, USDT represented more than half of all crypto utilized by users,\u201d\u00a0Brighty\u2019s co-founder and chief technology officer, Nick Denisenko, told Cointelegraph, adding:<\/p>\n

\u201cWe expect a challenging transition to USDC, and users will need a lot of time to adapt to the changes.\u201d<\/p>\n

Brighty is a Swiss personal finance app that combines traditional digital banking experience with the benefits of stablecoins and decentralized finance. Its services include crypto exchange against numerous fiat currencies, particularly targeting global digital nomads, who are expected to reach 60 million by 2030.
As a European CASP, Brighty is working to obtain a MiCA license from local regulatory authorities, Denisenko said.<\/div>\n<\/div>\n

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Tether USDt Tops Salary Payments & Savings In EU In 2024; Brighty Authored by Helen Partz via CoinTelegraph.com,Tether USDt, the world\u2019s largest stablecoin by market capitalization, was the most widely used currency for salary payments and savings on the European crypto banking platform Brighty in 2024,\u00a0according to a new report.Brighty\u2019s \u201cCrypto Earners\u2019 Money Habits\u201d report, […]<\/p>\n","protected":false},"author":1,"featured_media":5153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-5152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-issues"],"_links":{"self":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/5152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5152"}],"version-history":[{"count":0,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/5152\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/media\/5153"}],"wp:attachment":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}