{"id":23898,"date":"2025-05-12T16:03:17","date_gmt":"2025-05-12T13:03:17","guid":{"rendered":"https:\/\/forklog.com\/en\/bis-reports-on-cryptocurrencys-role-in-global-trade\/"},"modified":"2025-05-12T16:03:17","modified_gmt":"2025-05-12T13:03:17","slug":"bis-reports-on-cryptocurrencys-role-in-global-trade","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bis-reports-on-cryptocurrencys-role-in-global-trade\/","title":{"rendered":"BIS Reports on Cryptocurrency&#8217;s Role in Global Trade"},"content":{"rendered":"<p>At its peak in 2021, Bitcoin, Ethereum, USDT, and USDC accounted for $2.8 trillion, or 12% of global merchandise trade. These estimates were <a href=\"https:\/\/www.bis.org\/publ\/work1265.htm\">provided<\/a> by analysts at the Bank for International Settlements (BIS).<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1554.webp\" alt=\"1-1554\" class=\"wp-image-258522\"\/><figcaption class=\"wp-element-caption\">Source: BIS.<\/figcaption><\/figure>\n<p>Data from 184 countries covered the period from the first quarter of 2017 to the second quarter of 2024.<\/p>\n<p>Approximately $1.2 trillion of the $2.8 trillion was generated by stablecoin transactions.<\/p>\n<p>In 2023, the total figure fell to $1.8 trillion, but has since begun to rise again, indicating a continuing, albeit uneven, expansion of the crypto ecosystem.<\/p>\n<p>Initially, digital gold dominated transaction volumes, peaking at 80% in the second quarter of 2019. By the end of the study period, its share had fallen to about 25% as focus shifted to stablecoins.<\/p>\n<p>Geographical barriers have less impact on digital asset operations compared to traditional financial systems.<\/p>\n<p>The United States and the United Kingdom together accounted for 20% of cross-border payments in Bitcoin and USDC, and nearly 30% in Ethereum.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/2-1099.webp\" alt=\"2-1099\" class=\"wp-image-258517\"\/><figcaption class=\"wp-element-caption\">Source: BIS.<\/figcaption><\/figure>\n<p>Experts noted significant geographical shifts in cross-border activity, particularly from China to other major <span data-descr=\"emerging markets\" class=\"old_tooltip\">emerging markets<\/span> such as India, Indonesia, and Turkey. The latter, along with Russia, accounted for 12% of such operations in USDT.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/3-614.webp\" alt=\"3-614\" class=\"wp-image-258518\"\/><figcaption class=\"wp-element-caption\">Source: BIS.<\/figcaption><\/figure>\n<p>The BIS found that measures taken by authorities in several countries to control capital flows do not significantly affect these streams.<\/p>\n<p>Higher alternative costs of using fiat, such as high inflation, encourage cross-border crypto transactions.<\/p>\n<p>In April, the Russian Ministry of Finance<a href=\"https:\/\/forklog.com\/en\/news\/russia-considers-developing-its-own-stablecoins-reports-reuters\"> proposed<\/a> developing its own stablecoins tied to various currencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At its peak in 2021, Bitcoin, Ethereum, USDT, and USDC accounted for $2.8 trillion, or 12% of global merchandise trade. These estimates were provided by analysts at the Bank for International Settlements (BIS). Source: BIS. Data from 184 countries covered the period from the first quarter of 2017 to the second quarter of 2024. Approximately [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23897,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1430,18,46,1224,1245,910],"class_list":["post-23898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bis","tag-bitcoin","tag-ethereum","tag-macroeconomics","tag-tether-usdt","tag-usdc"],"aioseo_notices":[],"amp_enabled":true,"views":"100","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=23898"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23898\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/23897"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=23898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=23898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=23898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}