As the global financial system becomes increasingly dependent on stablecoins, they have become a financial force that cannot be ignored. According to the latest report, stablecoins are now the 18th largest holder of U.S. Treasuries, demonstrating their growing importance in the global capital market. After a brief drop in supply in 2023, stablecoin issuance has recovered to an all-time high of $170 billion. Monthly payments on the chain have doubled over the past 12 months, reaching a staggering $1.4 trillion in July, indicating a growing demand for this form of cryptocurrency.

Analysts led by Gautam Chhugani point out that stablecoins have become a new way for international users to access U.S. dollar savings, facilitating the spread of digital dollars around the world. In this way, the digital form of the dollar is no longer limited to the United States, but is rapidly spreading to global markets through stablecoins. This phenomenon shows that stablecoins have gone beyond the concept of pure cryptocurrency and have become an important part of the global financial ecosystem.

At the same time, stablecoins are increasingly being integrated with payment and fintech companies. Global payment platforms such as PayPal, MercadoLibre and Grab have begun to introduce the use of stablecoins to meet users' cross-border payment needs. This integration not only makes stablecoins more widely used in daily payment scenarios, but also promotes their further development in the global fintech field. By embedding stablecoins into the payment system, users can conduct international transactions and store value operations more conveniently, greatly enhancing user experience and payment efficiency.

In addition, the importance of stablecoins in cross-border payments is becoming increasingly prominent. Bernstein's analysis points out that the US dollar stablecoin based on the crypto track has become one of the cheapest cross-border payment methods. Compared with traditional cross-border payment channels, the use of stablecoins can significantly reduce fees while increasing the speed and transparency of fund transfers. This is very attractive to businesses and individuals who rely on international payments, especially when dealing with small cross-border transactions, the advantages of stablecoins are more obvious.