Stablecoins, once seen as experimental products, have now become an essential part of financial infrastructure, boasting a market capitalization of $245 billion and accounting for 67% of cryptocurrency trading volume.
Stablecoin Market
Stablecoins such as USDT and USDC account for over 86% of the market, demonstrating dominance amidst changes in the financial landscape. Recently, in 2025, the stablecoin market cap reached $245 billion, a significant increase from $5 billion in 2019.
Competition and Challenges
Amidst the dominance of USDT and USDC, new players like EthenaLabs have shown growth exceeding 30 times. Traditional companies including Walmart and Amazon are preparing to launch their own stablecoins, creating intense competition for existing ones. Regulation is also becoming a key factor, as various jurisdictions, including the US and EU, strive to adapt legal frameworks for this new financial reality.
Future and Prospects
Over the next five years, significant developments are expected in asset stabilization and integration with real assets such as real estate and bonds. Projects in real asset tokenization and the implementation of AI technology in risk management will foster new business models. As regulatory rigor increases, companies that can ensure compliance and innovate will occupy leading positions in the market.
The story of stablecoins is just beginning, and the next steps in their development could transform the financial ecosystem on a global scale.
