[The Total Market Value of Stablecoins Reaches $318 Billion, Surpassing the Foreign Exchange Reserves of 95 Countries] According to CoinDesk, the total market value of stablecoins has reached $322 billion, surpassing the foreign exchange reserves of 95 countries. The amount of fiat currency held by users through non-traditional banking channels has now exceeded the official foreign exchange reserves of 95 countries, including Poland, Thailand, Mexico, as well as the UK, Canada, and the UAE. Currently, only 14 countries/regions hold foreign exchange reserves greater than the market value of stablecoins. Stablecoins are widely used in cryptocurrency trading, DeFi settlements, and cross-border payments. A report by the Bank for International Settlements (BIS) pointed out that cross-border stablecoin flows have grown significantly since 2022, particularly active in regions with high inflation and severe exchange rate volatility. However, BIS also warned that stablecoin transactions could trigger capital outflows, putting pressure on vulnerable domestic currencies to depreciate.