In recent years, stablecoins have rapidly emerged as a new digital payment tool on a global scale. According to the latest data released by Visa and Allium, the total transaction volume of stablecoins has reached an astonishing $5 trillion from 2025 to the present, involving up to 1 billion payment transactions. This figure is nearly on par with the total transaction volume of $5.7 trillion for the entire year of 2024, demonstrating the vigorous development trend of the stablecoin market.

Since November 2024, the total market value of these crypto assets designed to track the value of mainstream currencies like the US dollar has increased by 47%, reaching $255 billion. This growth trend is closely linked to political changes, reflecting an increasing confidence among investors in stablecoins as a store of value and a means of payment.

However, despite the booming trend in the stablecoin market, experts in the fintech field remain cautious about its limitations as a payment tool. Mike Robertson, CEO of the foreign exchange infrastructure company AbbeyCross, pointed out a key issue: "In the cryptocurrency space, many believe that code and technology can solve all problems. But in the foreign exchange field, this idea may be overly simplistic."

In fact, when using stablecoins for cross-currency transactions, users still face costs similar to those in traditional foreign exchange trading, including bid-ask spreads, exchange fees, intermediary costs, and potential slippage losses. These factors can affect the efficiency and economic viability of stablecoins in real payment scenarios.

Nevertheless, stablecoins are still seen as an important innovation in the future of payment systems. They offer new possibilities for cross-border payments, micropayments, and financial inclusion. With the continuous advancement of technology and the gradual clarification of the regulatory environment, stablecoins are expected to play a more significant role in the global financial system.

In the future, how to balance innovation and risk management, how to improve transaction efficiency and reduce costs will be key challenges that stablecoins need to face for further development. At the same time, the cooperation among regulatory agencies, financial institutions, and technology companies in various countries will also have a significant impact on the future development of stablecoins.

Overall, the rapid growth of the stablecoin market reflects the demand for more efficient and flexible payment methods in the digital economy era. However, to truly realize the potential of stablecoins, joint efforts from all parties in the industry are needed to continuously optimize technology, improve the ecosystem, and establish a sound regulatory framework.