The stablecoin market is still primarily dominated by tokens pegged to the US dollar, with USDT and Circle's USDC holding 87% of the market share. The US Department of the Treasury's Q1 2025 report predicts that the market capitalization of dollar-pegged stablecoins could reach $2 trillion by 2028. However, European Union officials have expressed concerns about the risks associated with over-reliance on dollar-pegged stablecoins. The Italian Bank has warned that disruptions in the stablecoin market or underlying bonds could have significant consequences for other areas of the global financial system. These developments highlight the increasing influence and potential risks associated with stablecoins in the context of the global financial landscape.$USDC