According to a joint report by Visa and Dune, the supply of non-USD stablecoins more than doubled in February, reaching $1.1 billion, with transaction volume surging over 1600% to $10 billion. Currently, over 1.2 million addresses hold these "local currency" stablecoins, which are primarily used for payments and settlements rather than DeFi yield. Euro stablecoins dominate, accounting for over 80% of market share, with the report indicating that euro stablecoin market value is poised for significant growth to reach hundreds of billions of dollars.