#美国贸易赤字状况 Stablecoins are quietly rewriting the financial ecosystem

The shift from "crypto products" to "everyday payments" is already happening. With a more complete payment card ecosystem and lower on-chain settlement costs, more and more people are experiencing that transferring coins is as convenient as using a card.

Data speaks the loudest. Bank card payment volume has increased by over 400% annually, even amid market volatility. Active addresses and total supply of ERC20 stablecoins are approaching all-time highs — this is not a bubble, but real transaction demand.

Where is the growth engine? In regions with high inflation pressure and insufficient coverage by traditional financial services. Stablecoins directly solve two pain points there: cross-border remittances without waiting and business settlements without hassle from intermediaries.

The issuers' revenue is also impressive. By 2025, just on the Ethereum chain alone, stablecoin operations will generate about $5 billion in revenue. The larger the user base and the more active the liquidity, the more stable the revenue model becomes — creating a virtuous cycle. If U.S. regulators introduce new policies in the future, this growth curve could become even steeper.

In simple terms, stablecoins have evolved from experimental tokens into the foundational infrastructure of a new financial system.