The supply of non-U.S. dollar stablecoins has surged to $1.2 billion, with the number of holder addresses exceeding 1.2 million, according to data from Forbes, Dune, and Visa. Monthly on-chain transaction volumes for these stablecoins have reached approximately $10 billion. This growth is largely attributed to euro-denominated stablecoins, which have benefited from the MiCA regulatory framework, seeing their transaction volumes increase from $383 million to $3.83 billion year-over-year. Stablecoins pegged to currencies such as the Japanese yen, Singapore dollar, and Brazilian real are also expanding, signaling a shift from a U.S. dollar-centric model to a more diverse multi-currency on-chain settlement system. This evolution reflects the growing global adoption and integration of stablecoins in various financial ecosystems.