Historical market data paints a fragmented picture: in 2024, stablecoins, acting as the on-chain "aorta," facilitated a massive $36.3 trillion in flow, yet they have failed to become a payment tool that penetrates the economic "capillaries"—with an offline penetration rate of less than 6%.
This vast market gap is precisely the opening chapter of Solulu's story. Its ambition is to become the "infrastructure engineer" connecting on-chain value with offline entities. From a "compliance-first" global licensing layout, to the U Card that integrates daily consumption, and the settlement network reshaping cross-border trade, Solulu is systematically "building bridges and paving roads" for the large-scale adoption of stablecoins.
This report will delve into the analysis: Solulu's goal is not to be an all-round "straight-A student," but rather the "dark horse" that precisely breaks through the barriers and ignites the market.
The current stablecoin market shows an unprecedented development trend: on-chain settlement volume has achieved a historic breakthrough, but offline application penetration remains severely insufficient. This pattern of "online prosperity, offline desert" not only reveals the industry's status quo but also points the way forward.
Stablecoins have completed the critical leap from internal trading pairs within the cryptocurrency market to global financial infrastructure. On-chain data from 2024 fully confirms this trend:
Chart Interpretation:
The annual on-chain settlement volume of stablecoins reached $36.3 trillion. This figure not only surpassed the combined annual transaction volume of Visa ($14.1T) and Mastercard ($9.1T) for the first time but, more importantly, reveals the huge potential of stablecoins as a global value transfer layer. It proves that stablecoins have already become a massive throughput settlement network on the blockchain.
Simultaneously, the stablecoin market landscape exhibits a trend of diversification:
Chart Interpretation:
Despite the impressive on-chain data for stablecoins, their performance in the real economy presents a stark contrast. The current penetration rate of stablecoins in offline payment scenarios is estimated to be still below 6% – this means that over 94% of daily consumption scenarios have not yet been touched by this digital asset.
The fragmentation of "online prosperity, offline desert" prompts a deeper investigation into the root causes behind the chasm, focusing on three core contradictions: First, the high barrier to user experience, where professional concepts like private key management, Gas fees, and cross-chain deter ordinary users. Second, the lack of payment channels, missing convenient tools that seamlessly connect on-chain assets with offline merchants. Third, uncertain regulatory environments, where policy ambiguity leads most merchants and users to adopt a wait-and-see attitude.
These profound industry pain points precisely constitute Solulu's core opportunity. A platform capable of systematically solving these problems will undoubtedly hold the key to unlocking the trillion-dollar payment market.
The signing of the US GENIUS Act in July 2025 pressed the "compliance accelerator" for the stablecoin industry, becoming a milestone event in its development history.
The core regulations of this act are clear: Firstly, issuers must be "lice
