One of the most interesting stories in crypto payment infrastructure right now:

The payment narrative @SuiNetwork finally has real data.
It is reported that the network has processed over $1T in stablecoin transactions since August 2025.
This changes the framework.
Most L1 discussions still revolve around:
• TPS
• delays
• parallelism
• benchmarks
But payment infrastructure is increasingly evaluated by one metric:
the throughput of stablecoins.
The interesting part is that this reflects user behavior.
Activity with stablecoins is no longer limited to trading.
It is becoming:
• settlements
• transfers
• treasury movements
• cross-border liquidity
• using dollars on the blockchain
This creates a different competitive environment for L1.
Probably, the winners of the next phase will not be those with the loudest performance claims.
But those who make using stablecoins:
• cheaper
• invisible
• embedded in consumer flows
Sui’s plan for zero-fee stablecoin transfers this year is significant in this context.
The real signal is not “high TPS.”
But whether users increasingly perceive the chain as a payment system rather than a crypto network.
Data:
• over $1 trillion in total stablecoin transactions since August 2025
• zero-fee stablecoin transfers planned for 2026
Stablecoin UX is already becoming a layer of differentiation for L1.