Stablecoin is占领ing a significant part of the global economy.

As of now, according to data from CoinMarketCap, the total circulating value of the top eight stablecoins has reached approximately 245 billion USD.

In 2025, stablecoin has become an indispensable part of the global financial ecosystem, recognized by central banks and the International Monetary Fund (IMF) as a truly influential entity in the blockchain field.

To have a useful comparative view, the adjusted base money supply of the US dollar – including the amount of cash in circulation and bank reserve balances – is at 5.7 trillion USD.

This means that stablecoins currently account for 4.29% of the total "real currency" issued by the US that is circulating globally. To visualize it, place a 5-cent coin next to a 1 dollar bill – that is the ratio between stablecoins and actual dollars.

Source: CoinMarketCap## The huge "infrastructure reversal" of blockchain

The strong development of stablecoins and cryptocurrencies raises many strategic questions for investors, policymakers, and national economists:

• Are we heading towards a major outbreak of value and the relationship between these currencies?
• Will the explosion of stablecoins and crypto help the economy avoid a contractionary monetary cycle, a debt crisis, or hyperinflation?
• Is the shift of capital into digital assets a smarter choice than letting the dollar chase a limited basket of real-world goods?

These questions signal a new era, where crypto prices are shaped in a world where traditional financial infrastructure is being "upended". Bitcoin expert Andreas Antonopoulos once predicted this phase in a podcast with Joe Rogan, describing it as a global "infrastructure reversal" process.

From the number 0 in 2014, when Tether – the first stablecoin – was born, the stablecoin market has grown into a system of hundreds of billions of USD in just 11 years.

Crypto drives the demand for stablecoin

Traders often prioritize using stablecoins because they have a stable value equivalent to the dollar or another fiat currency. This allows them to easily exit positions without needing to convert to real cash immediately.

Stablecoins can be exchanged like Bitcoin or Ethereum on the same platform, enabling flexible trading. At the same time, users can also convert them into USD and withdraw to traditional bank accounts in the US or at local credit institutions.

The existence of 245 billion USD stablecoins in circulation in the third quarter of 2025 is clear evidence of the strong growth of the crypto market. It also indicates that the actual demand for crypto may be much higher than the current prices reflected in the market.

Although the majority of Americans and American businesses still do not own any crypto coins, since President Donald Trump was re-elected and implemented a series of reforms, coupled with organizations like Blackstone leading the wave of buying BTC and ETH, stablecoins are becoming an early indicator of a large value shift that will last for many years to come.

How stablecoins like Tether and USDC work

The mechanism of stablecoins operates quite simply in principle: the issuing company holds a large amount of reserve assets, usually USD or cash-equivalent assets, and issues a corresponding amount of tokens on the blockchain.

Each token is encrypted with a unique ID, which can be immediately verified by computers. Stablecoin users can spend using their phones or computers, transferring token ownership like a chain of electronic signatures. The blockchain system records these transactions in real-time, validated by thousands of distributed computers worldwide.

Typically, the "nodes" running the network will be rewarded with new tokens according to a transparent and public schedule of the network (, for example: Bitcoin or Ethereum ).

After the GENIUS Act was passed by Congress and signed into law by President Trump in July, stablecoins are officially required to have a 1:1 reserve ratio. This law not only reinforces trust for users and investors but also affirms the legitimacy of the blockchain sector in the national economic strategy.

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