PANews reported on September 19 that according to The block, analysts at research and brokerage firm Bernstein said that blockchain-based stablecoins pegged to fiat currencies such as the US dollar are reaching a level of systemic importance, and their issuers have now become the largest holders of US Treasuries along with sovereign states. Companies such as USDT and USDC hold more than $125 billion in US Treasuries in total. Analysts pointed out that the monthly payment volume of on-chain stablecoins has tripled in the past 12 months to $1.4 trillion, of which stablecoins account for about 50% of all on-chain transactions. The number of monthly active users hit a new high of about 22 million, and the total number of stablecoin wallets with non-zero balances is currently 120 million. After reaching a peak in April 2022, the circulating supply of stablecoins is now back to an all-time high of about $180 billion.
