According to online reports, a16z Crypto issued the article "stablecoins: Opportunities for 1 billion people to participate in cryptocurrencies"（Stablecoins: A1 + billion-user onboarding opportunity), which points out that in the past 12 months, the transaction volume of stablecoins has reached US$33 trillion, continuing to hit record highs, close to 20 times the transaction volume of PayPal and close to three times the transaction volume of Visa. stablecoins have been integrated into these huge global payment networks that have existed for decades. The vigorous development of stablecoins has brought about the result of US$128 billion in U.S. Treasury bonds being held by stablecoins. This puts them among the top 20 holders of U.S. Treasury bonds, even ahead of countries such as Saudi Arabia, South Korea, United Arab Emirates and Germany. Citibank recently predicted that stablecoins 'holdings in U.S. Treasuries will reach $3.7 trillion by 2030, making it the largest holder on this list. stablecoins have long been criticized for being used only to settle speculative cryptocurrency transactions, but data suggests otherwise.