The global stablecoin market is showing steady growth, surpassing the $250 billion mark due to the implementation of clearer regulatory standards and support for new issuers.
This is reported by Business • Media
Ethereum and TRON — Key Networks for Stablecoins
According to a recent analytical report, the largest volume of stablecoins is concentrated in the Ethereum network — $125.9 billion. In second place is TRON with $81.1 billion, while BNB Chain takes the third spot with $10.5 billion. At the same time, in terms of the number of unique monthly addresses interacting with stablecoins, BNB Chain (11.8 million) and TRON (9.6 million) lead, even surpassing Polygon PoS with 4.9 million active users.
A significant role in the market’s development was played by the signing of the GENIUS Act in the United States, which created a favorable environment for new stablecoin issuers and promoted transparency in the industry.
“Stablecoins are already competing for transaction volumes with giants like Visa, PayPal, and ACH,” the analytical report states.
Today, stablecoins serve as key financial instruments both in the realm of international transfers and for protection against economic instability. According to analysts, their transaction volume competes with leading payment systems.
Global Application: From Fintech to Inflation Protection
Tether maintains its leading position as collateral on centralized exchanges and for transfers to emerging markets. Tether’s profits are already comparable to the revenues of the largest global ETFs. Active adoption of stablecoins has been announced by companies such as Visa, Mastercard, Ramp, Amazon, and Walmart. Areas of use include cross-border transfers with lower fees, bypassing card networks to expedite settlements, integration into e-commerce, and credit cards that allow the use of stablecoin balances for everyday expenses.
Access to the dollar provided by stablecoins is especially important for residents of countries with high inflation or ongoing conflicts. Over the past year, inflation has exceeded 10% in 22 countries, leading to a rise in the popularity of stablecoins for protecting savings and making payments. Regions with expensive international transfers, such as countries in Sub-Saharan Africa, could benefit the most from the implementation of digital currencies.
“Access to the dollar is a lifeline for residents of countries with high inflation or war,” analysts noted.
Stablecoins could also serve as a counterbalance to China’s dedollarization initiatives, particularly within the framework of the Belt and Road Initiative, where the digital yuan (e-RMB) is actively promoted in international trade. Dollar-dependent stablecoins could strengthen the dollar’s position even in the digital economy.
It is worth noting that, according to experts, 161 million users worldwide already own stablecoins, and by December 2024, the volume of transactions using them is expected to reach a record $719 billion.