Author: Frank, PANews

In the past year, the market capitalization of stablecoins has significantly increased, and the application scenarios have gradually expanded. In addition to playing the role of "hard currency" in crypto-native scenarios such as DeFi, their roles are continuously evolving, with a larger trend of entering Web2 for payments, cross-border settlements, and value storage.

The vast market and potential of stablecoins make them a key resource that major public chains are competing for. To support the realization of these larger-scale real-world application scenarios, higher requirements are placed on the basic performance of public chains and the characteristics of their ecosystems.

In this silent revolution of financial pipelines, BNB Chain has constructed a three-dimensional infrastructure system based on the "performance axis - ecosystem axis - scenario axis," quietly paving the high-speed road network for future finance.

Data is the most direct evidence, as more and more users, projects, and institutions choose to engage in stablecoin-related activities on BNB Chain. Recently, the USD stablecoin USD1 launched by the Trump family’s WLFI has also chosen BNB Chain as its main issuance battlefield, with the chain accounting for nearly 90% of the current total circulation. The market capitalization of USD1 on BNB Chain has now exceeded $110 million.

By March 2025, the number of active stablecoin independent wallet addresses on BNB Chain reached a historical high of over 15.38 million, leading other public chains. The number of active USDT addresses on BNB Chain in the past month reached 12 million, ranking first. Over the past year, the market capitalization of stablecoins on BNB Chain has achieved approximately 75% growth, demonstrating strong capital attraction.

The "Three-Polar Engine" of Building a Financial Highway

In the process of stablecoins penetrating the real economy, BNB Chain constructs value transmission infrastructure through a three-tier power system, which includes a high-speed transmission axis with 3-second block confirmation and 5000 TPS processing capability; a zero-friction bearing with fees as low as $0.03 and a zero Gas plan; and a modular chassis comprising the BSC main chain, opBNB expansion layer, and Greenfield storage.

In terms of performance, the block time of the BNB Chain mainnet BSC is about 3 seconds, which will be reduced to 1.5 seconds after the completion of the Lorentz upgrade this month, far faster than Ethereum's mainnet, which has a block time of about 12 seconds. In terms of transaction processing capacity (TPS), the theoretical capacity can reach 5000 TPS. In contrast, Ethereum's TPS after the merge (PoS) is about 30, with a historical maximum measured at about 22.7. This powerful performance provides a fundamental guarantee for the large-scale, real-time application of stablecoins.

In terms of architecture, its multi-chain architecture (general-purpose BSC, expansion layer opBNB, storage layer Greenfield) is meeting the needs of different application scenarios, providing a flexible foundation for the integration of stablecoins in various applications. This strategic shift means that BNB Chain is not only satisfied with being a channel for stablecoins but aims to become the core platform for creating value with stablecoins.

Cost is also a key factor for the large-scale application of stablecoins, especially in small payment scenarios. The average transaction fee on BSC is extremely low, ranging from about $0.03 to $0.11, which is 1/30 of Ethereum's fees. This means that even if a user conducts 100 stablecoin transfers on BSC daily, their total cost may only be around $3 (calculated at $0.03 per transaction).

Building a "Tropical Rainforest" System for Stablecoins

Ecosystem construction has always been a prerequisite for the large-scale application of stablecoins. BNB Chain has built a unique stablecoin ecological rainforest by creating a fertile ground for developers, an external resource reserve pool, and a security protection forest.

Attracting developers to build stablecoin applications is one of the keys to ecological prosperity. BNB Chain lowers the development threshold by providing a compatible environment and a rich toolchain. BNB Chain is fully compatible with the Ethereum Virtual Machine (EVM), which means that smart contracts and decentralized applications (dApps) developed for Ethereum can be migrated to BSC with minimal changes. Additionally, BNB Chain has established various developer support programs, including Builder Grants that provide funding support, growth incentive programs, and the Most Valuable Builder (MVB) accelerator program, to comprehensively support the development of ecological projects.

In terms of the ecological environment, BNB Chain has unique advantages. It has one of the most active and largest user bases. Moreover, liquidity is abundant—not only due to its close ties with the globally leading exchange Binance but also because it connects with most mainstream exchanges and wallets in the market, becoming the most widely used public chain.

As of April 2025, the total market capitalization of stablecoins on BNB Chain reached $7.2 billion, ranking fourth in the entire network, making it one of the main public chains for stablecoin issuance and adoption.

At the same time, Binance Labs (now renamed Yzi Labs) continues to invest in BNB Chain projects. Among the 46 projects invested by Binance Labs in 2024, 14 are from BNB Chain, including long-term cooperative MVB projects. This ecological support may provide more room for stablecoins to flourish. These resources collectively create a strong "synergistic" effect on the development of the BNB Chain stablecoin ecosystem.

As the founder of Binance, CZ has always been optimistic about the application prospects of stablecoins. As early as 2023, he pointed out on social media that stablecoins have great potential in cross-border payments and inflation hedging, emphasizing that the gradual clarity of regulations will instead accelerate their popularity. Recently, in the face of the intensifying "stablecoin war," CZ stated that healthy competition in the market has just begun.

To further promote the application of stablecoins, BNB Chain launched a zero Gas fee carnival plan in September 2024, which has been extended to June 2025. This plan is a key measure for BNB Chain to promote stablecoin payment applications and has currently covered over $3 million in fees. Major mainstream exchanges, wallets, and others have been included as activity partners. Recently launched USD1 also enjoys zero gas fees, further reducing users' on-chain stablecoin usage costs.

These resources collectively create a strong "feedback" effect on the development of the BNB Chain stablecoin ecosystem. At the same time, this deep integration with top CEXs and positive externalities brings liquidity access and user bases to BNB Chain that are difficult for other public chains to match.

While the technology is rapidly advancing, a security safety net has been established. As part of the AvengerDAO security system, the Red Alarm tool continuously monitors and flags high-risk projects and contracts, building a firewall against scams for users.

From DeFi to Offline Payments, Creating a Three-Dimensional Space for Stablecoin Scenarios

Having built an ecosystem and an excellent performance foundation, entering more application scenarios is the ultimate value destination for stablecoins. By actively laying out key areas such as DeFi, GameFi, AI, and real-world payments, and promoting the prosperity of a diversified on-chain financial environment layer application ecosystem, BNB Chain provides stablecoins with rich application scenarios and opportunities for value amplification.

DeFi is one of the main application areas for stablecoins. BNB Chain has a thriving DeFi ecosystem, where stablecoins play a core role. For example, PancakeSwap, as the flagship DEX on BNB Chain, has become the main venue for stablecoin trading and liquidity on-chain, with weekly trading volumes often exceeding $10 billion, allowing users to exchange with low slippage.

Venus Protocol is a long-established and leading lending platform on BNB Chain, with a TVL of approximately $1.55 billion as of April 2025. Users can deposit stablecoins on Venus to earn interest or collateralize other crypto assets (such as BNB, ETH, etc.) to borrow stablecoins.

The emerging ListaDAO represents a new trend in the lending field, combining liquid staking derivative finance (LSDFi). Users can collateralize assets such as BNB or its liquid staking tokens slisBNB to borrow the protocol's native stablecoin lisUSD or the recently launched USD1 pegged to the US dollar. As of April 2025, ListaDAO's TVL on BNB Chain has reached $748 million, with a total borrowing amount of approximately $155 million.

These lending protocols greatly expand the use of stablecoins, making them important tools for obtaining liquidity, leveraging, or implementing yield strategies.

In addition to DeFi, BNB Chain is also actively promoting stablecoins into real-world payment scenarios, connecting on-chain value with offline consumption.

On the streets of Bangkok, users have enjoyed free first orders and stablecoin payments through the TADA Telegram mini-program; in a Singapore mall, dtcpay's Visa card allows stablecoins to be instantly converted into fiat currency for consumption. — These scenarios are turning crypto experiments into everyday financial realities.

From DeFi to payments, from on-chain to off-chain, from processing transactions to value transfer. BNB Chain continues to expand the boundaries of stablecoin applications and plays a key role in promoting their integration into the global payment system, laying a solid foundation for the popularization and mainstreaming of stablecoins.

As stablecoins gradually transition from crypto-native finance to broader real-world scenarios, the underlying public chain infrastructure is also undergoing a profound reshuffle. In this reconstruction of a new order, BNB Chain is quietly becoming a backbone force in this transformation with its high performance, low cost, strong ecosystem, security, and top resource integration capabilities.

Here, stablecoins become the starting point for building the high-speed road of future finance, reaching the next billion users.

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