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Stabelins are undeniably in circulation, in view of the sale of tokens of the Circle’s IPO and plasma.
Meanwhile, the US Senate is going into a final vote on the Genius Act, Landmark Stabelcoin Bill this week.
What does stabechoin landscape look like today?
First, the total stabelcoin supply up and right – $ 249 billion in the last week. The USDT and USDC represents the lion part of the stablecoins, about 88% ($ 218 billion) of the entire Stabelin market together.
Well, StableCoin supply is increasing, but how are they being used?
Cases of B2B use today run the largest part of stabeloin use.
The B2B cross-border payment alone was tracked at about $ 3 billion in February 2025, while $ 1.1 billion for card-based expenses, $ 1.5 billion in Peer-to-Pier Payment, or $ 275 million in B2C payment over the same time.
According to Crypto 2025 of the coinbase, 18% small and medium American businesses for their business needs in 2025 “(that) know about Cryptocurrency” use Stabecrims. Report,
The most stabechoin transfers series? Etharium, base and tron.
In May, Etharium saw $ 1.2 trillion in volume (29%), while the base had $ 1 trillion (26%) and Tron $ 687 billion (17%). In May, the total stabelcoin volume came to $ 4 trillion.
Should the talented act be passed, which players stand to achieve the most?
If the Genius Act requires stablecoins to be supported by the US dollar or Treasury Bills, it is probably the answer: traditional fintech companies such as Tradfi regulated issuers such as circles, traditional fintech companies, and banks and money market funds, Blockworks Research Annallist Luke Leser told me.
Decentralized stabechoin such as Athena’s USDE or Sky (first manufacturer) USDS is not fully supported by cash counterparts, so will not suit genius (unless registered in the US).
Nevertheless, there are still positive effects for Defaneed from a burst in stabechoin growth.
In particular, stand to achieve money markets such as AAV and Pendall.
On Aave V3 alone (in all series), StableCoins make about $ 10.2 billion in TVL.
What about pendal?
Although pendal is technically a “yield trading” app, it has cemented itself as a real Go-to-market platform for all produce-ascendant assets, especially stabelcoins.
High-risk hunger users Onchain only want to share and acquire an underlying T-Bill yield, they want to speculate on the points.
A 5.3 billion dollar snapshot of Pendall at TVL today displays the effectiveness of the business in capturing the downstream growth of the new yield-bearing stabeloin launch. About ~ 61% of this includes Ethena’s USDE and EUSDE (a restacing token), Sky’s USDS and OpenDen’s USDO.
recently Report The Spartan Group and the modular capital found that Pendall has occupied about 30%-in-Kul Stabelcoin supplies of the entire stabechoin market with a full $ 11 billion yield.
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