Discussion Paper
Stablecoins in 2025: Developments and Financial Stability Implications
Abstract: This note examines recent developments in the stablecoin industry and their implications for financial stability. During 2025, stablecoins have grown by about 50 percent in terms of market capitalization, with transaction volume and use in DeFi protocols also surging.
https://doi.org/10.17016/2380-7172.4020
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Bibliographic Information
Provider: Board of Governors of the Federal Reserve System (U.S.)
Part of Series: FEDS Notes
Publication Date: 2026-04-08
Number: 2026-04-08-2