VanEck Report: Solana Has Huge Potential in the Payment Sector

ChainCatcher news, a recent report released by the well-known digital asset management company VanEck shows that, according to estimates from the Federal Reserve, the global annual payment transaction volume (excluding China) is approximately 1 trillion transactions. The total revenue opportunity for Solana in the payment sector ranges between $6.66 billion and $3.3 billion (assuming Solana's average transaction fee is between $0.001 and $0.005).

However, payment revenue is just one aspect of Solana. The introduction of payments will attract more users, developers, and institutional attention, thereby promoting the development of the Solana ecosystem. If Solana can achieve a situation similar to Ethereum, where payments account for only 5% of its total revenue, then Solana's total revenue opportunity could range from $13 billion to $66 billion.

If merchants use USDC on the Solana blockchain instead of credit cards for payments, they can save 2-3% on transaction fees. This portion of the saved fees can be returned to consumers through some incentive measures. This is also beneficial for the Solana blockchain.