PANews reported on April 1st that, according to Decrypt, a Standard Chartered report indicates that the velocity of stablecoins has doubled in the past two years, currently turning over an average of six times per month. Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, stated that while a higher velocity of turnover theoretically means less stablecoin is needed to support the same transaction volume, the increase in new use cases has not affected low-turnover savings use cases, thus maintaining the forecast that the total market capitalization of stablecoins will reach $2 trillion by the end of 2028.

The report states that the surge in stablecoin velocity of circulation is primarily concentrated on USDC on the Solana and Base networks. This is related to USDC beginning to replace traditional bank payment channels and is driven by early AI agent payments powered by Coinbase's x402 protocol. USDT's velocity of circulation, on the other hand, remains relatively stable due to its primary use in emerging market savings. The report points out that the two stablecoins have developed differentiated use cases: USDT dominates emerging market savings, while USDC is more often used for traditional financial substitution.