The total value of stablecoins has increased by 50% since January, reaching a record of $191.6 billion, with Tether and USD Coin dominating the sector. Stablecoin market value has been steadily increasing over the last 12 months, with Tether’s USDT token accounting for 69% of the global market for such assets.
The growth in stablecoin value can be attributed to President-elect Donald Trump’s bullish stance on cryptocurrencies and the increasing adoption of stablecoins in global trade and cross-border transactions. Tether recently completed its first-ever crude oil transaction from the Middle East, while the United Kingdom plans to build a crypto regulatory framework by 2025, intending to regulate stablecoins under its payment laws.
The Financial Conduct Authority (FCA) is also expected to ease its strict rules on the registration of crypto companies.
Source
<p>The post Global Stablecoin Supply Reaches New All-Time Highs: Tether and USD Coin Dominate Sector first appeared on CoinBuzzFeed.</p>
