TechFlow news: According to a recent research report from brokerage Bernstein, stablecoins are becoming an increasingly important component of the global financial system and have become the 18th largest holder of U.S. Treasury bonds. The report notes that after a brief decline in 2023, stablecoin circulation has rebounded to a record high of $170 billion. In July this year, on-chain monthly payment volumes tripled year-on-year to reach $1.4 trillion.
Bernstein analyst Gautam Chhugani stated that stablecoins provide international users with access to dollar-denominated savings, accelerating the global spread of digital dollars beyond U.S. borders. The report also highlights that stablecoins are being more deeply integrated with payment and fintech firms such as PayPal, MercadoLibre, and Grab, and are increasingly serving as a key instrument for cross-border payments. On L2 networks, transferring $1,000 can cost as little as one cent.
Notably, stablecoin holders outside the United States view them as value preservation tools hedging against local currencies. In emerging markets, 20% of young people aged 18–24 allocate 25%–50% of their investment portfolios to stablecoins.
