Stablecoin Market Reaches $322 Billion Amid Banking Concerns

The global stablecoin market has reached a new high of $322 billion, as concerns within the banking sector regarding deposit loss and the risk of bank runs continue to grow. According to NS3.AI, Tether and Circle dominate the market, controlling over 80% of the circulating supply, with USDT alone making up nearly 59%. McKinsey has observed that institutional tokenized deposit networks are poised to handle more than $4 trillion in annual transaction volume.