Stablecoin Weekly Update

#stablecoins #stablecoins

1. Market Size

According to defillama data, as of 2025.7.9, the total market capitalization of global stablecoins is $255.39B, an increase of $ 1.866B from 7 days ago, with $USDT holding a market share of 62.44%.

2. Regulation

The Central Bank of Bahrain has released a licensing and regulatory framework for stablecoin issuers.

3. Project Progress

Circle has applied to establish a national trust bank in the U.S.; if approved, Circle will be able to act as the custodian of its own reserves and hold crypto assets on behalf of institutional clients.

Italian banking giant Banca Sella has partnered with Fireblocks to pilot stablecoin custody services.

Japan's Minna Bank is collaborating with Fireblocks, Solana Japan, and TIS to trial stablecoin and wallet use cases.

Russian company Rostec will launch the ruble stablecoin RUBx and the payment platform RT-Pay.

4. Financing

Stablecoin infrastructure Perena has completed a new round of financing, with participation from Susquehanna and others.