Report: Non-USD stablecoin supply rose to $1.1 billion in February.

CoinFeed reported on April 2nd that, according to The Block, a recent report from Visa and Dune shows that the supply of non-USD native currency stablecoins increased to $1.1 billion in February this year, roughly three times that of January 2023. During this period, on-chain transfer volume increased from $600 million to $10 billion, an increase of over 1600%. The report states that these stablecoins are primarily held in user wallets, centralized exchanges, and institutional vaults for cross-border payments, remittances, B2B settlements, and foreign exchange management, rather than being primarily deployed in DeFi to earn yields, as USD stablecoins are typically used. The number of addresses holding non-USD stablecoins has exceeded 1.2 million, and the number of monthly active transfer addresses has increased from approximately 6,000 to 135,000. About half of the supply is in unidentified wallets, and about a quarter is in exchanges.