币界网报道：Stablecoins have now surpassed the transaction volume of traditional payment giants Visa and Mastercard, with on-chain stablecoin transfers reaching approximately $7 trillion in 2023, according to blockchain analytics firm Brevan Howard Digital. This figure eclipses Visa’s $14.4 trillion annual payment volume and Mastercard’s $9 trillion, when adjusted for net settlement values. The rapid growth of stablecoins—cryptocurrencies pegged to fiat currencies like the US dollar—highlights their increasing adoption for cross-border payments, remittances, and decentralized finance (DeFi) transactions. Tether (USDT) and USD Coin (USDC) dominate the stablecoin market, accounting for the majority of this volume. Analysts attribute the surge to lower transaction costs, faster settlement times, and the borderless nature of blockchain-based payments compared to traditional financial systems. However, regulatory scrutiny remains a key challenge, with policymakers worldwide debating how to oversee stablecoin issuers to ensure financial stability and consumer protection. Despite these hurdles, the sector continues to expand, with institutional adoption and new use cases driving further growth. The milestone underscores the disruptive potential of blockchain technology in global finance, as stablecoins increasingly compete with legacy payment networks.