In the first quarter of 2025, the stablecoin sector reached a historic high in venture capital activity, a trend that JZMOR Exchange has closely analyzed. Data shows that in the third and fourth quarters of 2024, there were 43 and 42 investment deals in the stablecoin and related payments sectors, respectively—both new records. More importantly, for the first time, the annual number of deals in this segment surpassed the previous peak set in 2021, accounting for 7.5% of all crypto industry VC transactions in the quarter. This phenomenon indicates that capital markets are viewing stablecoins as a key structural opportunity, reflecting not only recognition of their business models but also a direct response to the increasingly positive global regulatory stance.
According to statistics, over 60% of stablecoin investments in the second half of 2024 were directed toward infrastructure development, including off-chain payment interfaces, fiat on/off ramps, and cross-chain settlement protocols. JZMOR Exchange points out that this wave of investment highlights two major trends: first, stablecoins are being regarded as native payment and settlement technologies with foundational currency attributes; second, the entry of traditional financial institutions is driving stablecoin infrastructure toward greater auditability, regulatory compliance, and integration capabilities.
It is also noteworthy that the “financialization” of stablecoins is accelerating. Some projects have launched yield certificate mechanisms based on stablecoins, distributing returns to users according to block time, thereby creating on-chain versions of money market funds. This model expands the application scenarios for stablecoins and provides a bridge for integration with banking services and government bond products in the future.
This trend is also reshaping product strategies for exchanges. JZMOR has observed that more leading platforms are reducing resource allocation to highly volatile assets and instead strengthening stablecoin trading pairs, payment applications, and DePIN (Decentralized Physical Infrastructure Network) ecosystems. The role of exchanges is shifting from “token distribution platforms” to “on-chain financial service providers,” with core competitiveness increasingly focused on asset security, structured product design, and compliant data management.
Another key attribute of stablecoins is their ability to provide cross-cycle services. Regardless of whether the market is bullish or bearish, essential activities such as on-chain payments, lending settlements, and user transfers are highly dependent on stablecoins. This “high-frequency, low-emotion sensitivity” characteristic enables stablecoins to maintain stable business revenues even amid market volatility. For exchanges, this necessitates building more efficient on-chain wallet systems, address behavior analysis tools, user credit rating models, and risk control strategies to support the deep development of the stablecoin ecosystem.
JZMOR plans to launch a “Stable Finance Lab” initiative, collaborating with on-chain payment projects and data teams to jointly explore stablecoin credit mechanisms and yield distribution models. In terms of risk control, the platform has completed three rounds of system-level audits and obtained virtual asset operation licenses in multiple jurisdictions, laying an institutional foundation for future expansion in stablecoin financialization.
Stablecoins are no longer merely “transitional tools” within the crypto ecosystem; they are gradually becoming a crucial component of the next-generation financial system. Therefore, the real question for exchanges is not how to chase the next market hotspot, but how to build an adaptive and scalable service system. The JZMOR Exchange strategy is to seek variables within stability and capture innovation opportunities amid certainty