Visa recorded approximately $1.3 trillion in adjusted stablecoin volume and 230.3 million adjusted transactions over 30 days as of late August. Fee abstraction allows stablecoin apps to hide ETH and SOL from users, but paymasters and sponsors still fund network fees in those native assets. This shifts operational responsibility from individual users to a smaller number of providers, who replenish balances and recover costs through billing or subsidies. The unresolved question is how aggregate ETH or SOL demand changes when stablecoin activity grows but payer-level distribution remains unmeasured. Representative Coinbase, Alchemy, and Kora implementations show how sponsors can aggregate native-token requirements, potentially concentrating operational exposure as stablecoin adoption increases.
Source: Read the original article
