On-chain data released by Lookonchain revealed that the 24-hour trading volume of Tether (USDT) on the Tron network has reached up to $53.031 billion, an increase of 10% in the last 24 hours, surpassing Visa's average daily trading volume. This record is certainly quite an important record, because Visa is one of the largest payment processing companies in the world, handling billions of transactions in more than 200 countries and regions.

Tron, a blockchain project developed to build decentralized applications, also saw its total value locked (TVL) increase as it increased to over $8.1 billion, making it the second blockchain network, only behind Ethereum, which is at the top of the ranking. Visa has long developed its company as an instant payment processor. However, the continued growth of USDT and other stablecoins could pose potential challenges to the conventional payment processing industry.