Have you noticed that recently, discussions in the community all revolve around exchanges, contracts, and new tokens?

But the group truly working on big things quietly doesn't touch these. They neither issue tokens nor speculate on them; instead, they hold the future of finance—managing stablecoins.

Many people treat stablecoins as a temporary liquidity tool for trading, but that's a misconception. Its true identity is as a settlement currency on the blockchain, equivalent to the US dollar in the digital world.

Currently, its market cap is around $250 billion, which doesn't seem large. But look at the on-chain transaction volume for 2024—$5.7 trillion. This isn't for speculation; it's genuinely circulating, settling, and being used.

You can think of it this way: exchanges are shops, and stablecoins are goods. Having a shop without recognized goods means the transactions can't really happen.

Regulators once didn't understand this stuff, and no one dared to act. But since last year, the situation has completely flipped. The US GENIUS Act, Hong Kong's Stablecoin Regulations, and the EU's MiCA are all bringing it into the formal fold. Stablecoins are transforming from niche tools into the infrastructure for global payments and asset settlement.

Some people hear "10 trillion US dollars" and think it's an exaggeration. But the logic is quite solid:

Cross-border payments are slow and expensive now, but with stablecoins, transactions can be completed in minutes, with negligible fees. As long as a share can be captured, it can support a trillion-dollar scale of funds. Plus, RWA (Real-World Asset) on-chain requires a settlement unit, making stablecoins the most natural choice; emerging markets lack hard currencies, and stablecoins have become a hedging tool.

This is far from just a trading tool; it's clearly an evolution of financial infrastructure.