Visa reports: Accelerating use of non-US dollar stablecoins is shifting from DeFi tools to "local currencies"

According to TheBlock, payment giants VISA and Dune jointly released a report stating that non-US dollar stablecoins are gradually being used as actual "local currencies" and their application in payment and settlement scenarios has grown significantly. Unlike U.S. dollar stablecoins, which are mainly used for DeFi revenue strategies, non-U.S. dollar stablecoins are more used in actual capital flow scenarios such as cross-border payments, remittances, B2B settlement and foreign exchange management. Their assets are mainly distributed in user wallets and centralized exchanges. Exchange and institutional vaults. Data shows that as of February this year, the total supply of non-US dollar stablecoins reached US$1.1 billion, an increase of about three times compared with January 2023; during the same period, the transfer scale soared from US$600 million to US$10 billion, an increase of more than 1600%. Currently, more than 1.2 million addresses hold relevant stablecoins, and the number of active sending addresses has increased from approximately 6000 to 135,000.