According to a recent research report from Coinbase, stablecoins are playing an increasingly vital role in the mainstream adoption of cryptocurrencies, particularly for payments and financial operations. The report indicates that there is a significant surge in interest from companies, with 81% of crypto-aware small and medium businesses (SMBs) expressing interest in using stablecoins. This trend is also visible at Fortune 500 companies: their interest in stablecoins has tripled compared to the year 2024, and 82% of SMBs believe crypto can solve a major financial challenge.
The Q2 2025 State of Crypto report highlights this growing momentum. Organic stablecoin transfer volume hit record highs in December and April over the past year, demonstrating the growing adoption of these digital currencies. More than 160 million people worldwide hold stablecoins, and their global supply has grown by 54% year-over-year.
Coinbase’s report underscores that regulatory clarity is crucial for crypto’s future. The firm emphasizes that a clear regulatory framework from the US government, such as the GENIUS Act, is necessary to foster continued innovation in this space. A majority of Fortune 500 executives agree on the importance of consistent regulation around crypto and blockchain technologies. 8 out of 10 Fortune 500 executives believe that such clarity would be essential for supporting ongoing innovation.
Stablecoins are gaining traction globally, with South Korea’s newly elected President Lee Jae-myung proposing a Digital Asset Basic Act to enable local companies to issue their own stablecoins. This legislation would allow them to offer guaranteed refunds through reserves and obtain regulatory approval. Notably, the European Central Bank is pursuing its own central bank digital currency (CBDC), but regional governments are resisting tighter control over monetary flows.
The stablecoin ecosystem continues to be dominated by Tether and Circle with Tether holding a 61% market share, followed by USDC from Circle with a 24% share. Maker’s USD (formerly DAI) stands as the third largest option with $7.2 billion in circulation.