ChainCatcher report, according to The Block, Visa and Dune have jointly released a report indicating that non-U.S. dollar stablecoins are increasingly being used as actual "local currencies," with significant growth in their application for payments and settlements. Unlike U.S. dollar stablecoins, which are primarily used for DeFi yield strategies, non-U.S. dollar stablecoins are more frequently utilized in real-world fund transfer scenarios such as cross-border payments, remittances, B2B settlements, and foreign exchange management. Their assets are primarily held in user wallets, centralized exchanges, and institutional treasuries. Data shows that as of February this year, the total supply of non-U.S. dollar stablecoins reached $1.1 billion, approximately triple the amount in January 2023; during the same period, transaction volume surged from $600 million to $10 billion, an increase of over 1,600%. More than 1.2 million addresses currently hold these stablecoins, with active sending addresses rising from around 6,000 to 135,000.
Visa Report: Non-USD Stablecoins Experience Rapid Adoption, Shifting from DeFi Tools to 'Local Currency'
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Summary
Visa and Dune’s latest weekly market report shows that non-USD stablecoins are now being used as local currency for payments and settlements. Unlike USD stablecoins, these are utilized in cross-border remittances, B2B settlements, and FX management. As of February 2026, the total supply reached $1.1 billion, a threefold increase from January 2023. Transaction volume surged from $600 million to $10 billion, representing a 1,600% rise. Over 1.2 million addresses hold these tokens, with active senders increasing from 6,000 to 135,000. The daily market report underscores growing adoption in real-world use cases.
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