Analysis: The growth of stablecoins is hindered by sustained exchange costs

According to a report by Golden Finance, although stablecoins have entered the peak of expectations, senior experts in the broader fintech industry believe that as an emerging payment tool, stablecoins have limitations. According to data from Visa and Allium, as of 2025, stablecoin transactions have reached $5 trillion through 1 billion payments, which is not far from the total of $5.7 trillion in 2024. Since US President Donald Trump won the election in November 2024, the total value of these cryptocurrencies aimed at closely tracking the prices of existing currencies such as the US dollar has increased by 47%, reaching $255 billion.