The combined market value of stablecoins has reached $191.5 billion, setting a new ATH following the collapse of Terra’s UST in May 2022. This was highlighted by Bloomberg.
Since the beginning of the year, the figure has increased by 46%.
The agency noted the growing role of stablecoins in global trade as a tool for cross-border payments.
Seventy percent ($133 billion) of the total value is attributed to Tether. The company aims to expand the use of USDT by entering new sectors, including lending to commodity companies.
Bloomberg noted interest in the space from fintech companies like Stripe and PayPal.
Christopher Giancarlo, a candidate for the position of “crypto czar,” reminded that the adoption of stablecoin legislation was among the goals of U.S. President-elect Donald Trump.
Earlier, media reported the sale of 5% of Tether to Cantor Fitzgerald. The issuer considers the partner’s CEO, Howard Lutnick, as a key ally in resisting regulatory pressure on the stablecoin sector.