Fortune's article about Crypto and stablecoins.

Stablecoins were originally mainly used in crypto trading, but now, after the U.S. officially "legalized" it through the Genius Act, it has become a new hotspot in the U.S. financial sector.
The stablecoin issuer bought a large amount of U.S. Treasury bonds to maintain the 1:1 peg to the dollar.
The USDT issuer Tether's holdings in US Treasuries exceed 100 billion USD, surpassing countries like the UAE and Germany.
The entire stablecoin industry is now the 18th largest holder of U.S. Treasury securities, which includes the $USDC issuer Circle.
In early 2024, the trading volume of stablecoins surpassed that of Visa, the world's number one payment network. Although much of this occurs in the crypto trading scene, the speed and low cost make cross-border payments more competitive than older technologies like SWIFT.
Against the backdrop of reduced purchases of U.S. Treasuries by China and Japan, companies behind stablecoins have become new buyers of U.S. Treasuries, helping the U.S. Treasury to issue bonds.
Supporters believe that this can also enhance the dollar's dominance globally, similar to the "offshore dollar" system, and help the United States enforce overseas sanctions.
David Sacks, the head of AI and Crypto at the White House, stated that the demand for stablecoins can lower long-term interest rates.
Some banking practitioners are concerned that stablecoins will siphon off bank deposits, affecting lending capacity.
Other experts are concerned that stablecoins occupying too much of the short-term US debt will affect the supply of risk management tools on Wall Street.
Some people also believe that the current scale is still small and has little impact on traditional finance, with the hype being greater than the actual threat.
Apollo predicts that by 2028, the market value of stablecoins may exceed $2 trillion, up from approximately $160 billion now.