#稳定币发展 Recently, activities in the stablecoin sector have indeed been occurring frequently. From a data perspective, this multi-chain deployment reflects several clear signals:

**The combination of privacy + Stablecoin**: The collaboration between Circle and Aleo with USDCx is noteworthy, not only as an upgrade in functionality but also related to considerations of transparency in transactions. Enhancing on-chain privacy could impact the difficulty of tracking funds, so it’s important to monitor the actual adoption rate of this in large transactions in the future.
**Accelerating deployment in emerging markets**: From Brazil’s BRLV (Paradigm investing 13.5 million USD), to the launch of RMJDT trading pairs in Malaysia and STABLE in South Korea, all point in one direction - Stablecoins are penetrating from the centralized market into emerging markets. Paradigm’s decision is seen as an initial investment in Brazil, essentially betting on the local stablecoin market space.
**Diversification of issuers**: No longer just Circle and Tether, now there are many types of entities such as telecom companies and fintech startups participating. This diversification in risk distribution is healthy, but it also means each issuer’s reserve ratio needs to be evaluated.
An important point to monitor is the actual liquidity and daily trading volume of these new stablecoins. The richness of support within the ecosystem determines whether they can truly become payment tools or are just trading pairs.