CoinFound Stablecoin Weekly Report: Key Insights from the Stablecoin Submarket Over the Past Week
Article author, source: CoinFound

(1) Stablecoin supply
- Ethereum, $228.73B
- TRON, 89.58B
- BNB Chain, $62.59B
- Solana, $16.64B
- Arbitrum, $7.80B
(2) Market Dynamics Review
- MoneyGram officially launches its own stablecoin, MGUSD.
- UK regulators face pressure to ease stablecoin regulations
- The stablecoin market's focus is shifting toward "infrastructure."
- Circle, the issuer of USDC, continues to benefit from the stablecoin boom.
- Global regulatory focus remains on the implementation of the U.S. GENIUS Act.
(3) Summary
Stablecoins were previously primarily issued by crypto companies, but now traditional payment firms are beginning to issue their own stablecoins and integrate them into remittance and settlement networks. This means: stablecoins are transitioning from investment tools to payment tools. The future competitive advantage will lie in who controls user access, who controls the payment network, and who controls the merchant ecosystem. The market has moved from the question of “whether stablecoins should be allowed” to “how to attract stablecoin industry adoption.” The greatest future value may not lie in the stablecoins themselves, but in the underlying infrastructure—including payment gateways, custodians, wallets, compliance services, clearing systems, and banking connectivity layers. Stablecoins are increasingly being viewed by mainstream finance as a new settlement layer. Recent data shows a decline in stablecoin trading volume, while institutional development and regulatory progress are accelerating. A short-term drop in trading volume is not necessarily negative—it may instead signal market maturation.
(Source: CoinFound)
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