The 2025 Global Stablecoin Industry Development Report, jointly published by PANews and Mobile Payment Network, presents a comprehensive analysis of the stablecoin ecosystem through six key dimensions: historical evolution, market structure, application scenarios, global regulations, growth potential, and systemic risks.
Key findings reveal dollar-pegged stablecoins dominate with 99% market share ($256.4B), while euro stablecoins trail at $490M. Tether (USDT) and USDC collectively control 86.5% of the market, with USDC’s 40.9% annual growth rate positioning it to surpass USDT by 2030. Annual on-chain transaction volume reached $36.3 trillion, exceeding Visa and Mastercard combined.
The report identifies five growth drivers:
1. Regulatory clarity in major economies
2. Institutional adoption by JPMorgan, BlackRock, and Ant Group
3. Circle’s successful IPO
4. Hyperinflation hedge demand
5. Expanding DeFi and RWA applications
Notable developments include PayPal’s PYUSD launch, Visa’s USDC integration, and JD.com’s Hong Kong sandbox testing. However, challenges persist regarding transaction authenticity (70-80% potentially artificial), reserve transparency, and regulatory fragmentation.
The 60-page analysis provides:
– Historical context from BitUSD to modern iterations
– Detailed market structure metrics
– Cross-border payment and DeFi use cases
– Comparative regulatory frameworks
– Future convergence with CBDCs
– Risk assessment protocols
Download available via official PANews channels. Disclaimer: Content represents research opinions, not investment advice.
