币界网报道：The rise of stablecoins in the global financial system and their disruptive impact on the traditional monetary landscape, Gan Tian, CEO of China Asset Management (Hong Kong), said that by the end of May 2025, the global issuance of stablecoins has exceeded US$235 billion, and stablecoins have surpassed Visa's 40-year transaction volume in just 5 years. If stablecoins are regarded as a narrow base currency of M0250 billion (analogous to the traditional monetary system M0), the total financial asset size formed by them is conservatively estimated to be US$14 trillion, and those who overestimate it believe that it has reached US$27-28 trillion. Gan Tian predicts that all traditional financial assets in the financial market will be on-chain in the next ten years, and only by being on-chain can the timeliness of transactions under the traditional settlement model be broken. In the next 5 to 8 years, the middle and back-end of the entire financial system will face tremendous changes.