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Banking giant Goldman Sachs reportedly believes that stablecoins have significant growth potential in the payments sector. Goldman Sachs analysts say in a new research paper, as seen by Fortune, that blockchain-based currencies pegged to the US dollar or other fiat currencies could grow into a market worth trillions. “Visa sizes the addressable market for payments at ~$240 trillion in annual payment volume, with consumer payments representing ~$40 trillion of annual spending. B2B (business-to-business) payments comprise roughly ~$60 billion while P2P (peer-to-peer) payments and disbursements comprise the remainder. As such, payments are the most obvious source of (total accessible market) expansion for stablecoins over the longer term. This opportunity is largely untapped so far, with the majority of stablecoin activity being driven by crypto trading activity and demand for dollar exposure outside of the US.” The bank’s analysts also say that Ci...

Raoul Pal, a former executive at Wall Street investment banking giant Goldman Sachs, says that NFTs (non-fungible tokens) have bigger potential than AI (artificial intelligence) cryptos. When asked during a recent Twitch Stream interview if AI is bigger than NFTs, Pal responded with “no,“ before adding, “You can’t ascribe the value of OpenAI and say oh, crypto AI should be worth the same.” AI Cryptos Pump 6% With VADER, TRISIG, And ARC Leading The Charge Amid Pal’s recent remarks, the AI crypto market saw its combined capitalization pump more than 6% in the last 24 hours. Leading this surge were VaderAI by Virtuals (VADER), Tri Sigma (TRISIG), and AI Rig Complex (ARC). Here is the link for my midcurve conversation about AI with @notthreadguy 😉 To be honest, I've w3anted to be on his twitch stream from Day 1 and a humorous insult got me here…https://t.co/GdVzlJ1pVU — Raoul Pal (@RaoulGMI) January 14, 2025 VADER was the ...

Discussing the leading crypto, Goldman Sachs CEO David Solomon said that Bitcoin can be similar to GOLD in that it serves as a “store of value.” Indeed, the investment bank’s head recently talked with CNBC live from the summer Olympics in France. There, he talked about BTC and his position on the token. The comments come as Bitcoin has dominated discussion regarding its potential as a reserve asset. Donald Trump has promised to use the cryptocurrency as a strategic reserve, should he be reelected in November. Moreover, US Senator Cynthia Lummis has recently introduced a bill calling on the US Treasury to hold the token. Source: etftrends.com Also Read: 93% Bitcoin Holders in Profit As BTC Reaches For All-Time High Goldman Sachs Head Gives His Two Cents on Bitcoin Debate Bitcoin has been a major talking point in 2024. The asset represented the first crypto-based ETF in the US, while it reached an all-time high of $73,000 in March of this year. Its status has become un...