This was a big week for stablecoins. Expect an explosion of activity in the coming months. And: crypto has its hero back: CZ is free.
⏱️ Read time: 3min | Focus: Crypto, Macro & AI
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BlackRock is quietly backing a new USD rival that could shake up the $170B stablecoin market:
Why it matters: The stablecoin market is led by Tether’s USDT (75% market share; 120B market cap). BlackRock’s entry could increase competition and drive greater institutional adoption of stablecoins, shaking up the current landscape.
Another stablecoin? Yes.
Recently, Robinhood, Revolut, Anzens, SG Forge, PayPal and Ripple have entered the stablecoin race, tapping into $170B stablecoin market.
By the numbers: 90% of stablecoin transactions are executed by proprietary traders, hedge funds, and market makers—mainly to balance liquidity across platforms.
Regulation: The U.S. is developing a regulatory framework for stablecoins, while Europe has already implemented stringent regulations under the MiCA legislation.
Devil’s advocate: Even with BlackRock’s muscle, stablecoin projects aren’t immune to hurdles. JPMorgan Chase, Meta, and Binance have faced regulatory scrutiny and operational challenges in launching their stablecoins.
