Stablecoins worth 322 billion dollars in foreign exchange reserves across more than 95 countries—this number is a bit outrageous—The moat of traditional finance is gradually being eroded by code, and someone is finally taking serious action in the cross-border payment sector.

CoinWorld News reports that the total market value of stablecoins has reached $322 billion, surpassing the foreign exchange reserves of over 95 countries, including Poland, Thailand, Mexico, as well as developed economies like the UK, Canada, and the UAE. Stablecoins are fiat currency tokens issued on the blockchain, with their value pegged 1:1 to fiat currencies such as the US dollar, euro, and Japanese yen. In recent years, the market value of stablecoins has grown significantly, mainly focusing on dollar-pegged tokens like Tether (USDT) and USD Coin (USDC). The Bank for International Settlements' report indicates that the use of stablecoins in cross-border payments has increased markedly, especially in regions where traditional banking systems are slow or costly.