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Ethereum’s stablecoin supply reached a record $180 billion, which is about 60% of the global stablecoin market.
That total represents roughly 150% growth over the past three years, showing how dominant Ethereum remains as stablecoin infrastructure.
Longer-term projections suggest stablecoin inflows could expand sharply by 2030, even if Ethereum’s market share slips from current levels.
A new forecast projects stablecoin transaction volume could reach $1.5 quadrillion annually by 2035.
The projection builds on 133% annual growth from 2022 to 2025, when stablecoin activity reached $28 trillion.
The outlook assumes tailwinds from merchant adoption and a major wealth transfer toward younger, more crypto-native generations.
South Korea was highlighted as a strong market for stablecoin-based retail payments because of its high digital payment penetration.
The broader point is that stablecoin adoption may move fastest in markets that already have mature digital payments behavior.
The story also reinforces how urgently major payments players want clearer rules before scaling consumer stablecoin use cases.
Stablecoins are now on track for a $2 trillion market by 2028 — New industry research says stablecoins could grow about five-fold to $2 trillion by 2028 from a market of roughly $315.5 billion.
The proposed framework sets reserve, capital, redemption, and risk-management standards for regulated payment stablecoin issuers.
Issuers would need to redeem tokens within two business days and would not be allowed to offer interest or yield on the tokens.
The rules also make clear that stablecoin reserves would not receive pass-through deposit insurance coverage.
Treasury proposed AML and sanctions rules that would require stablecoin issuers to run bank-like compliance programs.
The framework includes KYC, transaction monitoring, and the ability to block or freeze tokens tied to illicit activity.
The proposal shows that U.S. stablecoin regulation is increasingly being built around compliance, control, and enforcement.
White House economists found that banning stablecoin yield would increase community bank lending by only about 0.026%, or roughly $2.1 billion.
The analysis also estimated a net welfare cost of around $800 million from such a ban.
That directly challenges claims that stablecoin rewards would seriously drain deposits from smaller banks.
Merge introduced Named EUR IBANs, giving end users fully branded euro accounts connected to stablecoin rails.
The product is designed to make fiat on-ramps and off-ramps more seamless for businesses handling SEPA payments and blockchain settlement.
The bigger play is compliant fiat-stablecoin infrastructure that can scale through API-based integrations.
Circle executives held high-level meetings in South Korea to discuss licensing and USDC’s role in regional finance.
The push comes amid sharp increases in local USD Coin trading activity.
The broader angle is that Asia is becoming a more important battleground for stablecoin distribution and trade settlement.
Merge introduced Named EUR IBANs, giving end users fully branded euro accounts connected to stablecoin rails.
The product is designed to make fiat on-ramps and off-ramps more seamless for businesses handling SEPA payments and blockchain settlement.
The bigger play is compliant fiat-stablecoin infrastructure that can scale through API-based integrations.
Sky moves to make its yield-bearing stablecoin more defensive - Sky is reshaping USDy to make the system more defensive, with stronger buffers and lower yield risk taking priority over headline returns.
World Liberty Financial plans a USD1 airdrop test - WLFI wants to test its USD1 rollout by giving a small amount to current holders, using the giveaway to check distribution and spark early traction.
Circle’s freeze powers are facing more scrutiny - Circle is facing new scrutiny as critics argue its wallet-freezing powers can support compliance but also create trust and reputation risks.
XRP-linked stablecoin infrastructure starts drawing institutional attention - XRP-based payment rails are gaining more institutional interest as improving U.S. policy signals make firms more open to trying alternative stablecoin networks.
Split Capital shuts down as its founder joins Plasma - Split Capital wound down even after reporting profitability, with founder Zaheer Ebtikar moving to stablecoin startup Plasma as chief strategy officer. The move reflects a broader shift from liquid crypto trading toward infrastructure-focused stablecoin bets.
Polymarket launched Polymarket USD, a new 1:1 USDC-backed token that replaces bridged USDC.e on the platform.
User balances in USDC and USDC.e are set to convert automatically, simplifying the transition to the new system.
The move shows a growing trend toward app-specific stablecoins that improve control over liquidity, UX, and platform economics.
The platform also launched CTF Exchange V2, a rebuilt order book designed to improve execution speed and reduce gas costs.
The upgrade adds smart-contract wallet support, including EIP-1271 compatibility.
Together, the changes push Polymarket toward a more seamless trading experience while tightening its stablecoin infrastructure.
👋 That’s your stablecoin scoop for the week!
Until next time — AllScale Weekly
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