[Bernstein: Stablecoins are becoming systemically important] Golden Finance reported that brokerage firm Bernstein said in a research report on Thursday that stablecoins are becoming increasingly important to the global financial system and have become the 18th largest holder of U.S. Treasuries. The report said that after the supply fell in 2023, the circulation of stablecoins has now rebounded to an all-time high of $170 billion, and the monthly payment volume on the chain has tripled in the past 12 months to $1.4 trillion in July. The report pointed out that these cryptocurrencies are being more integrated with payment and fintech companies such as PayPal (PYPL), MercadoLibre (MELI) and Grab (GRAB).