Stablecoin Market Cap Tops $200B as U.S. Sees Industry Helping Maintain Dollar Dominance

The stablecoin market has reached a significant milestone with a combined market capitalization exceeding $200 billion, following U.S. Treasury Secretary Scott Bessent’s commitment to leverage digital assets for maintaining the dollar’s status as the world’s reserve currency. This growth is evident as demand rises among investors amid a sliding cryptocurrency market. Notably, Tether’s USDT continues to dominate the market, holding steady at around $140 billion, while USDC issued by Circle approaches $60 billion, reflecting a substantial increase since the recent elections. The U.S. administration identifies stablecoins as an essential tool in ensuring U.S. debt maintains its value and expanding the dollar’s global influence.