Stablecoin fever: 5 major stablecoins are growing crypto adoption
Institutional interest in stablecoins is increasing, with regulatory frameworks emerging in the EU and US. The EU's MiCA package provides guidelines for stablecoin issuers, while the US STABLE Act and GENIUS Act are progressing through Congress. Major firms like Mastercard and Visa are enhancing support for stablecoin systems, contributing to market growth. Key initiatives include Tether's planned US relaunch of a dollar-based stablecoin, World Liberty Financial's USD1 stablecoin linked to the Trump family, and Custodia Bank's partnership with Vantage Bank to issue the first bank-issued stablecoin, Avit, on Ethereum. Stripe is developing a US-dollar-based stablecoin product after acquiring the Bridge payments network. In the UAE, First Abu Dhabi Bank is set to launch a dirham-backed stablecoin. Visa and Mastercard are expanding stablecoin payment options, with Mastercard partnering with OKX and Visa collaborating with Stripe and Bridge for Latin American markets. SBI VC Trade is preparing to support USDC in Japan. Regulatory acceptance is anticipated to drive further adoption of stablecoins globally.
