#稳定币发展 Seeing Xiaomi's move, the first thought that flashed through my mind was—this is a real turning point for stablecoin payment scenarios.

Looking back to 2017, how many times have we heard the promise that "blockchain will change payments"? Back then, the stories were loud and clear, but in the end? Aside from internal exchange flows, not a single real commercial payment scenario was implemented. Ten years have passed, with ICOs, DeFi, and NFTs taking turns. We've woven countless dreams about mainstream applications, but wallets are still wallets, payments are still payments, and they have never truly intersected.

This time is different. 168 million Xiaomi phones—this is not an imaginary number. Greece's 36.9% market share, India’s 24.2%—these are real devices already in users' pockets. What does pre-installation mean? It means friction is completely eliminated—no need for education, no downloads, it’s ready to use at startup. Sei has found a path from "cold start" directly to "usage scenario."

I especially noticed the detail that stablecoin payments will first go live in Hong Kong and the EU in Q2 2026. What does this indicate? It shows they are avoiding risks and choosing relatively friendly regulatory environments, progressing step by step. This is a mature project operation approach, not some rebellious declaration of "we will revolutionize the world."

The essence of stablecoins has never been a speculative tool but a payment medium. Over the past decade, I’ve watched USDT survive on the settlement advantages of centralized exchanges, but it has never entered the C-end consumer scenario. Now, Sei’s hardware pre-installation breaks this deadlock. The $5 million developer fund is also crucial—without an application ecosystem, a wallet is just an empty shell.

But I also see risks. The Achilles' heel of any emerging payment system is the cost of changing user habits. Will Xiaomi users really use USDC to buy appliances? It depends on three things—transaction costs, settlement speed, and confidence in asset security. Sei’s 400-millisecond confirmation time and extremely low fees meet the first two, but the third depends on time.

History always repeats itself this way. What truly changes the world is not technical whitepapers but products that allow ordinary people to use seamlessly. From the iPhone to mobile payments, and now to on-chain wallets, each iteration follows the same rule: lowering barriers and integrating into daily life. The collaboration between Sei and Xiaomi may be writing the prelude for stablecoin payments to move from the lab to everyday life.

Of course, it’s still too early to call it a success. I need to see real transaction data, ongoing user retention, and the actual landing of ecological applications. But at least, this time, it’s no longer just an empty promise.