Stablecoin Giants Are Evolving, Here’s How It Impacts You
April 17, 2025
The stablecoin market has evolved far beyond its origins as a niche tool for crypto trading. Today, stablecoins function as macroeconomic instruments, geopolitical assets, and programmable payment rails powering the next generation of finance. What began as a dollar-pegged corner of DeFi is now a global contest for economic influence and technological leadership.
This week’s developments show the convergence of U.S. trade policy, tightening crypto regulations, and accelerating developer adoption into a turning point for the industry. We’re seeing the rise of Europe’s EURC stablecoin, Binance’s USD1 push, the growth of inflation-protected tokens, and the expanding use of tokenized U.S. Treasuries in on-chain finance. Together, these trends position stablecoins as both the dollar’s most powerful digital export and a potential long-term rival in the race for global payment dominance.
Stablecoins Are Becoming a Geopolitical Force
Stablecoins aren’t just a faster way to move money — they’re a response to shifting global power structures.
As the U.S. dollar weakened 9% YTD against the euro, Circle’s EURC saw a 43% spike in supply. Why? Because stablecoins offer non-dollar economies access to programmable alternatives — faster, cheaper, and unshackled from U.S. monetary policy.
Standard Chartered now forecasts the stablecoin market hitting $2 trillion by 2028. That scale isn’t just retail-driven — it could channel up to $1.6 trillion in Treasury demand, propping up U.S. debt even as other countries pursue de-dollarization.
Meanwhile, the U.S. is trying to legislate its way to leadership. The GENIUS Act is gaining traction, aiming to give dollar-backed stablecoins regulatory legitimacy and preserve the greenback’s influence — even in a fragmented financial world.
Cobo’s Take: The geopolitical value of stablecoins is now equal to their technical innovation. Platforms that can balance compliance, liquidity, and speed — while adapting to changing macro conditions — will own the next era of global payments.
What U.S. Tariff Policy Reveals About Stablecoin Infrastructure
U.S. tariffs aren’t just economic tools — they’re now stablecoin growth catalysts.
In response to trade war volatility and dollar instability, fintechs and businesses are leaning into stablecoins to sidestep traditional FX and banking delays. Modern Treasury is already piloting stablecoin rails for global payments.
In Vietnam and other export-heavy markets, where dollar settlement becomes fraught, stablecoins are emerging as frictionless tools for reconfigured supply chains.
And then there’s time: traditional finance settles in 8-hour windows. Stablecoins settle 24/7 — a difference that matters when tariffs shift overnight. Ripple’s RLUSD aims to become the default for around-the-clock institutional settlement.
Cobo’s Take: Stablecoins thrive in friction — and global trade is full of it. Any payment stack that supports real-time, cross-border, compliant transactions will win. WaaS providers must focus on multi-chain settlement, fiat bridges, and regulatory readiness to unlock this market.
@a16z: Stablecoins Are Having Their "WhatsApp Moment"
Chris Dixon’s latest piece nails it: stablecoins are scaling the way WhatsApp did — fast, globally, and without intermediaries.
Stablecoins processed $15.6 trillion in transfers last year — equal to Visa.
$200 remittance:
Bank wire = $12.13
Stablecoin = $0.01
Businesses are already leveraging this:
SpaceX: stablecoin treasury ops
ScaleAI: payroll in multiple markets
Stripe: stablecoin payouts at lower fees
Cobo’s Take: Stablecoins aren’t disrupting payments. They’re replacing them. This moment isn’t just about efficiency — it’s about programmable value layers. Developers and exchanges should be looking to abstract compliance, automate liquidity, and productize FX-like features into their stack.
Regulation & Compliance: The Landscape Is Shifting
Binance eyes Trump-backed USD1 — playing regulatory offense as CZ’s sentencing wraps.
NY AG flags Tether — citing national security risks.
SEC’s Crenshaw opposes "not-a-security" narrative — potential legislative headwinds.
Ukraine proposes 23% crypto tax — with stablecoins exempted.
Trump repeals DeFi tax rules — accelerates path to stablecoin-friendly legislation.
New Launches: Yield, Interoperability, and Real-World Use
USDi: Inflation-linked stablecoin tied to U.S. CPI
M^0 on Solana: Enabling branded stablecoins with shared liquidity
Tether’s U.S. institutional coin — with Big Four audits incoming
Binance LDUSDT — 1.5% APY yield-bearing USDT derivative
Kraken x Mastercard — stablecoin payments go physical
Ethena x Re — insurance-backed APY with sUSDe
@jpmorganJPMorgan adds GBP — Kinexys grows beyond USD
Circle x Monad — day-one full-stack USDC launch
Market Adoption: Institutions Are All In
Stablecoins now drive 95.3% of OTC volume alongside BTC & ETH
Visa joins Paxos — pushing USDG as a compliant USDT/USDC alternative
EURC hits $246M — biggest euro stablecoin, up 43% in a month
OpenEden USDO — 235% MoM growth post-Pendle integration
Capital Moves
Cap raises $11M — building a TradFi-integrated yield engine
Ripple x Hidden Road — $1.25B M&A for institutional stablecoin flows
Tether.io invests in Fizen — bridging self-custody and merchant settlement
Final Word from Cobo
Stablecoins are no longer just digital dollars. They’re programmable capital, policy tools, and financial infrastructure all at once.
Cobo builds the infrastructure that lets you plug into this new world — securely, scalably, and without the operational complexity. Whether you're an exchange, asset manager, or fintech innovator, we provide the wallet stack, compliance rails, and multi-chain support you need to launch and grow in the stablecoin economy.
