Bernstein: Stablecoins are increasingly becoming a systemic and critical part of the global financial system

PANews reported on September 20 that according to CoinDesk, Bernstein pointed out in its latest report that stablecoins are increasingly becoming a systemic and critical part of the global financial system. The supply of stablecoins has rebounded to an all-time high, with a circulation of $170 billion, and has become the 18th largest holder of U.S. Treasury bonds. In the past 12 months, on-chain payment volume has grown to $1.4 trillion, showing its widespread use in cross-border payments. In addition, stablecoins are accelerating their integration with fintech companies, including PayPal, MercadoLibre, and Grab. Bernstein said that the transfer fee of USD stablecoins on the Layer 2 blockchain is extremely low, and a transfer of $1,000 only costs 1 cent.