TechFlow news: On March 25, according to The Block, payments giant Visa and Dune jointly released a report stating that non-USD stablecoins are increasingly being used as de facto “local currencies,” with significant growth in their application for payments and settlements. Unlike USD stablecoins—which are primarily used for DeFi yield strategies—non-USD stablecoins are more frequently deployed in real-world fund-transfer use cases such as cross-border payments, remittances, B2B settlements, and foreign exchange management. Their assets are predominantly held in user wallets, centralized exchanges, and institutional treasuries.
Data shows that as of February this year, the total supply of non-USD stablecoins reached $1.1 billion—approximately three times higher than in January 2023. Meanwhile, transaction volume surged from $600 million to $10 billion over the same period, representing a growth of over 1,600%. Currently, more than 1.2 million addresses hold these stablecoins, and active sending addresses have increased from roughly 6,000 to 135,000.
