A senior executive from a leading exchange shared a set of eye-catching data at the UAE Blockchain Conference in December.

Stablecoins have become a "killer application" in the crypto space — this is not an exaggeration; the data speaks for itself. Recently, the market cap of stablecoins has been increasing, and the number of users has also grown by 50%. Even more astonishing, the number of stablecoin holders has reached 130 million.

What does this mean? This scale is beginning to challenge the dominance of traditional payment networks. The daily transaction volume has directly surpassed that of traditional giants like Visa. In other words, stablecoins are gradually evolving from niche crypto tools into mainstream value transfer methods.

The underlying logic is actually easy to understand: stablecoins combine the efficiency of blockchain with the stability of traditional currencies, resulting in lower risk for users and more convenient settlements for merchants. When such tools are available, market choices become a natural outcome.

However, whether this growth can continue depends on regulatory environments and underlying technological support. But at least from the current momentum, stablecoins are no longer just fighting for a share of the crypto market—they are redefining the entire payment and settlement system.