Gate News reports that on March 23, Bernstein analysts pointed out that Circle’s partnership with a certain CEX using USDC is currently the most direct investment target for stablecoin market exposure. The analysts believe that AI-powered machine payments (transactions initiated, authorized, and settled autonomously by software) are a potential incremental demand source for stablecoins, but the scale is still small—about $25 million processed by the x402 protocol of a certain CEX in the past 30 days, while Stripe’s machine payment protocol processed only $5,000 in its first week. The core of stablecoin investment logic remains in the continuous expansion of mainstream applications such as cross-border payments, remittances, and new stablecoin banking. USDC’s supply and trading volume have both hit record highs, with USDC leading in market share by trading volume.