Interest in stablecoins is witnessing significant growth, influenced by the introduction of the GENIUS law and the increase in their market capitalization.
Unprecedented Surge in Interest for Stablecoins
According to data from Google Trends, there is an unprecedented surge in interest in stablecoins. The volume of search queries has reached a historic record, surpassing levels from May 2022, when the market faced the collapse of TerraUSD (UST) and the Luna ecosystem. This time, however, the interest stems from the launch of the GENIUS Act on July 18, which marked a turning point for the market. This American regulatory framework provides clear directions for stablecoin issuers. "People are becoming aware of their potential," comments crypto analyst The DeFi Investor. He asserts that "stablecoins are the product that can onboard the first billion people on-chain."
Stablecoins Become Institutional
Despite previous concerns, stablecoins are increasingly seen by large companies as legitimate financial instruments. The number of Fortune 500 companies exploring stablecoins has tripled in a year. Over 80% of small and medium enterprises familiar with cryptocurrency are looking to integrate them into their operations. Factors like instant international payments and reduced costs have contributed to their rapid adoption. In 2024, stablecoins processed $27.6 trillion in transactions, surpassing the combined volume of Visa and Mastercard.
The Future of Stablecoins and Their Role in the Financial System
Institutional interest in stablecoins continues to rise. Anchorage Digital, the only federally chartered crypto bank in the USA, recently launched USDtb in partnership with Ethena Labs. WisdomTree is deploying USDW to support tokenized assets, while Bank of America, JPMorgan, and Citi are exploring their own initiatives. This institutional trend underscores that stablecoins are becoming an integral part of the financial system.
In conclusion, the interest in stablecoins and their acceptance at the institutional level confirm their significance for the future of the financial market.
