Stablecoins are going through a turning point. Once purely a trading tool, they are now gradually evolving into a mainstream choice for daily payments. The widespread adoption of payment card ecosystems and improvements in on-chain settlement efficiency have allowed users to experience the same smoothness with digital currencies as with cash for the first time.

The data speaks for itself. Bank card payment volumes have surged by 400% over the past year. Even amid fluctuations in the crypto market, active addresses and supply of ERC20 stablecoins remain near all-time highs. This growth is not unfounded— in regions with severe inflation and scarce traditional banking services, stablecoins directly address pain points in cross-border transfers and commercial payments, becoming a key infrastructure of the parallel financial system.

Issuers are also reaping benefits. By 2025, stablecoin issuers on Ethereum alone are expected to generate approximately $5 billion in revenue. Behind this is a clear positive feedback loop: the more users there are, the higher the on-chain transaction volume, and the more substantial the fee income. Market expectations suggest that US regulators may make slight adjustments to profit-sharing rules, and once implemented, this growth curve could accelerate again.

Stablecoins are no longer just an adjunct to crypto assets but are becoming the foundational layer of a new financial system.