According to Visa's latest report, stablecoins have facilitated approximately $670 billion in loans over the past five years, with the average loan amount increasing from $76,000 to $121,000. USDC and USDT account for 98% of this, consistent with their $307 billion market share. Visa notes that stablecoins have the potential to transform the credit landscape by enabling traditional financial institutions to migrate portions of the $40 trillion global credit market to programmable blockchain systems. However, the International Monetary Fund (IMF) warns that the rapid development of stablecoins could lead to increased leverage, risk accumulation, and maturity mismatches in the financial system. The Visa report emphasizes that banks and financial institutions should understand how programmable money can reshape the credit market to seize potential opportunities.