Global #stablecoin market

Stripe, the renowned privately-owned payments giant, is reportedly in advanced discussions to acquire Bridge, a stablecoin payment platform founded by former Coinbase executive Sean Yu.

In this week’s report, we examine the latest happenings in the cryptocurrency market, including significant regulatory developments, shifts in stablecoin market shares, and the implications of recent volatility in traditional markets.

The stablecoin market is rapidly evolving, currently valued at over $155 billion with major players like Tether's USDT and Circle's USDC leading the charge. Recent reports suggest that Robinhood, a popular crypto-friendly stock trading platform, is exploring the launch of its own stablecoin as part of its broader cryptocurrency offerings.

The stablecoin market has reached a new all-time high with a market capitalization of $168 billion, marking 11 consecutive months of growth. This milestone surpasses the previous peak of $167 billion recorded in March 2022.

Bybit, a prominent player in the cryptocurrency exchange realm, has introduced a groundbreaking feature poised to redefine how traders manage their collateral: USDe. This innovative stablecoin offers daily reward payouts, allowing users to earn up to an impressive 20% APR on their holdings.

Since its launch in May, the Solana-based PYUSD stablecoin has experienced remarkable growth, amassing nearly $240 million in supply. This rapid expansion contrasts with the Ethereum-based PYUSD tokens, which have a supply of approximately $348 million after nearly a year on the market.