Visa report: Use of non-USD stablecoins is accelerating, shifting from DeFi tools to "native currencies".

According to a report by The Block, a joint report by payment giants VISA and Dune indicates that non-USD stablecoins are increasingly being used as de facto "local currencies," with significant growth in their application across payment and settlement scenarios. Unlike USD stablecoins, which are primarily used for DeFi yield strategies, non-USD stablecoins are increasingly used in real-world fund transfer scenarios such as cross-border payments, remittances, B2B settlements, and foreign exchange management. Their assets are mainly distributed in user wallets, centralized exchanges, and institutional vaults. Data shows that as of February this year, the total supply of non-USD stablecoins reached $1.1 billion, approximately three times that of January 2023; during the same period, the transaction volume surged from $600 million to $10 billion, an increase of over 1600%. Currently, more than 1.2 million addresses hold related stablecoins, and the number of active sending addresses has increased from approximately 6,000 to 135,000.