Stablecoins surpass $310 billion, officially evolving into digital cash infrastructure

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Stablecoin Market Breaks $310 Billion, Entering Growth Stage

The global stablecoin market size surpassed $310 billion (approximately 449 trillion KRW) on the 12th, growing nearly 70% in one year. This is not only a continuation of the cryptocurrency boom but also a signal that digital assets are being integrated into the global financial system.

Stablecoins differ from Bitcoin or Ethereum in their design goal of price stability. They are usually pegged to the US dollar, with some based on other assets such as the euro or gold. In the highly volatile crypto market, stablecoins serve as a stable means of trading and also bridge traditional finance with the decentralized world.

Currently, Tether (USDT) leads the market with a scale of $172 billion, followed by a stablecoin platform’s USDC at $145 billion. Together, they account for over 80% of global stablecoin transactions, indicating that users prioritize “trust” and “network effects” over technology.

Becoming the Central Axis for Crypto Exchanges and Cross-Border Transfers

Among major crypto exchanges, stablecoins account for 80% of total trading volume, effectively becoming the benchmark currency of the crypto market. This digital dollar, which eliminates volatility, performs especially well in cross-border transfers and settlement.

Traditional international transfers require multiple intermediary banks and clearing systems, taking an average of 3-5 days and incurring fees of 2-3% of the transaction amount. Using stablecoins can complete transactions within minutes, with fees under 1%, and in some cases, reduce costs by up to 95%.

In high-inflation countries like Argentina and Venezuela, stablecoins are becoming a means to preserve asset value, replacing fragile fiat currencies. For regions with difficulty opening bank accounts, stablecoins also enhance financial inclusion.

Expansion into Institutional Investment, Insurance, and Settlement

The adoption rate among institutional investors and financial firms is accelerating. According to a 2025 report by an organization, 49% of surveyed institutions are already using stablecoins in actual operations, with another 41% in pilot or planning stages. The main use cases are cross-border transfers; a survey by a well-known auditing firm shows 62% for supplier settlement and 53% for customer transactions.

Corporate finance departments view stablecoins as a way to avoid delays and exchange rate risks associated with traditional banking settlement systems. The main advantages are 24-hour real-time settlement and transparent fund flow tracking.

Institutions tend to adopt stablecoins initially rather than Bitcoin or Ethereum because stablecoins are more compatible with ongoing cash flows and accounting systems.

Integration with DeFi, Unlocking Trillions of Dollars in Potential

Stablecoins are also core assets in decentralized finance (DeFi), forming the foundation of trading and lending platforms. Major DeFi protocols build collateral structures around low-volatility stablecoins and are experimenting with stablecoins that can automatically generate yields.

By 2025, the on-chain transfer volume of mainstream stablecoins is projected to reach trillions of dollars annually, sometimes surpassing the settlement volume of certain card networks. Over half of the total value locked (TVL) in DeFi platforms is in stablecoins, demonstrating that these assets serve as “benchmark currencies” in practice.

Next Goal: “Digital Cash,” with Regulations and Infrastructure as Key

Currently, stablecoin usage is limited to trading within exchanges and transfer channels. To expand to over $1 trillion in scale, broader technological and institutional infrastructure is necessary. On-chain and off-chain conversions connected to banks and wallets, merchant tools, and user interfaces that hide blockchain technical details are all essential.

Regulations such as the European Union’s Markets in Crypto-Assets Regulation (MiCA) and related US legislation have officially begun, formalizing stablecoin regulation. This includes requirements for 100% reserves, accounting audits, and mandatory disclosures. Similar to traditional financial structures, these regulations lay the foundation for future integration.

Although stablecoins operate quietly, they are highly practical, connecting real-world finance with blockchain economy. While they may be overshadowed by major events like Bitcoin halving or mainnet launches, stablecoins are actually the true driving force behind digital financial infrastructure, evolving into “truly usable digital cash.”