Stablecoins are becoming the foundation of global digital finance, with governments, corporations, and blockchain ecosystems all racing to define the rules, issue tokens, and capture market share.
Global Google searches for “stablecoins” have hit an all-time high, while total market cap has surged to $272bn, now making up 7% of the entire crypto market.
GENIUS Act is now law in the U.S., introducing strict rules on reserves, transparency, and user protection turning stablecoins into indirect demand engines for U.S. Treasuries.
Europe’s MiCA imposes tough limits, especially on USD-backed stables. USDT faces delistings, while USDC gains regulatory favor and new opportunities.
Hong Kong sets its own path, requiring licenses and targeting business payments—only big players will survive.
Three main contenders are emerging:
$USDT (Tether)—dominant due to liquidity and risk-tolerant strategy (62% market share).
USDC (Circle/Coinbase)—backed by government partnerships, bank ties, and IPO plans.
$USD1 (Trump family)—fast-growing via B2B rails, Binance integration, and Gulf investors.
Stablecoins now settle more volume than Visa and Mastercard combined, with 90% of market cap pegged to the U.S. dollar.
Legacy giants like Amazon, Walmart, JP Morgan, JD.cоm, and Ant Group are piloting their own stablecoins for real-world payments.