Although Ethereum and Tron lead in stablecoin supply, Solana is already competing on transfer volume, processing ~$650B+ in February alone, ~2x prior highs. Payment and settlement flows are scaling fast (~755% YoY), alongside a few key developments: → Visa piloting USDC settlement on Solana → Stripe expanding stablecoin payment rails via Bridge More broadly, Mastercard’s planned acquisition of BVNK highlights how stablecoins are being integrated into global payment infrastructure. Solana holds a fraction of the supply but drives disproportionately high volume. That gap between supply and usage is worth watching.