2025 Stablecoin Market Review: Potentially Reshaping the Global Financial Landscape

In 2025, the stablecoin market rose at an astonishing speed, becoming the brightest star in the global fintech sector. From transaction volumes surpassing Visa to a market size exceeding $230 billion, stablecoins not only occupy a central position in the Crypto Assets ecosystem but also demonstrate disruptive potential in real economic scenarios such as cross-border payments, remittances, and corporate Settlement.

Market Size and Volume: The "Super Moment" of stablecoin

In the first quarter of 2025, the global stablecoin circulation has risen to 218 billion USD, a 13% increase compared to the same period in 2024. There are also predictions that by 2030, the stablecoin market size may range between 0.5 trillion and 3.7 trillion USD, indicating its immense growth potential. Even more astonishingly, in 2024, the on-chain transaction volume of stablecoins reached 5.6 trillion USD, equivalent to 40% of Visa's payment transaction volume, and in 2025, this figure further skyrocketed, with monthly transaction volume exceeding 700 billion USD, officially surpassing Visa's annual payment scale.

The explosive growth of stablecoin volume is not coincidental. USDT (Tether) and USDC (USD Coin), as market leaders, have consolidated their dominant position in cross-border payment and trading scenarios through regulatory clarity (such as the EU MiCA framework and Dubai DIFC approval) and strategic partnerships with traditional financial giants like Stripe and MoneyGram. For example, Stripe's high-profile acquisition of stablecoin service provider Bridge highlights the recognition of stablecoin potential by traditional finance. Meanwhile, the number of active addresses for stablecoins grew by 53% in February 2025, reaching 30 million, with institutional adoption accelerating at an unprecedented pace, hastening the integration of traditional finance (TradFi) and the encryption sector.

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Policy and Regulation: The US "deregulation" ignites new momentum

In 2025, changes in the global regulatory environment provided a boost to the stablecoin market. The U.S. Treasury Secretary publicly stated that they would review regulatory barriers hindering the development of blockchain and stablecoins, with the aim of making the financial system serve a broader range of ordinary users. After the Trump administration took office, its pro-crypto policies further boosted market confidence.

At the same time, the EU's MiCA regulations provide a clear compliance framework for stablecoins, while emerging markets like Dubai attract stablecoin issuers through regulatory sandboxes. These policy signals not only reduce market uncertainty but also attract more institutional players. Giants like Visa and BlackRock are accelerating their involvement in stablecoin-related businesses, promoting their use in remittances and merchant payments.

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New Trend: Yield-bearing Stablecoins (YBS) are emerging.

In 2025, the stablecoin market will experience differentiation. In addition to transaction-based stablecoins like USDT and USDC continuing to dominate the market, yield-bearing stablecoins (YBS) are rapidly emerging as a new ecosystem. YBS provides stable returns for users through risk-layered design, and is particularly favored in environments with significant market volatility. Analysts predict that if the crypto market remains sluggish, YBS could account for 20-30% of the stablecoin market.

For example, platforms like Resolv have redefined the yield model of stablecoins through the innovative YBS paradigm. The rise of such products enriches the application scenarios of stablecoins and attracts more developers and DeFi innovators to enter the field, promoting the diversified development of the stablecoin ecosystem.

Real-world applications: from encryption to global capital flow

The success of stablecoins is not limited to the crypto market; their application in the real economy is expanding at an unprecedented pace. By 2025, the role of stablecoins in cross-border remittances, merchant payments, and corporate settlements will be significantly enhanced, especially in emerging markets. Data shows that the trading volume of stablecoins exceeded $27 trillion in 2024, three times that of 2023, and this trend will further accelerate in 2025.

Stablecoins serve a wide range of users, from micro-businesses to the world's largest corporations, by providing faster and cheaper payment methods. For example, the integration of Stripe and Visa has made stablecoins the tool of choice for SMEs for cross-border payments, while the participation of institutions such as BlackRock further validates its potential in global capital flows. In addition, stablecoins will rank 17th in the world in terms of treasury bond holdings in 2025, surpassing Saudi Arabia, South Korea and other countries, becoming an important tool for U.S. bonds.

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Challenges and Prospects: Opportunities and Risks Coexist

Despite the booming stablecoin market, challenges still exist. Regulatory uncertainty remains the biggest risk, especially in light of the potential adjustments in U.S. SEC policies due to personnel changes. Additionally, the monopolistic positions of Tether and Circle are facing challenges from emerging competitors, and market fragmentation may bring new uncertainties.

Looking ahead, 2025 will be a key year for the stablecoin market. With the clarification of the regulatory environment, accelerated institutional adoption, and the emergence of innovative products like YBS, stablecoins are expected to further integrate into the global financial system. Analysts predict that by the end of 2025, the market size of stablecoins could surpass $400 billion, and on-chain transaction volume will continue to set new records.

This article only represents the author's personal views and does not represent the position or views of this platform. This article is for information sharing only and does not constitute any investment advice to anyone.

This article only represents the author's personal views and does not represent the platform's stance and opinions. This article is for information sharing only and does not constitute any investment advice to anyone.

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