"Pablo Hernandez de Cos highlighted that the global stablecoin market, valued at around $320 billion, poses risks to financial stability and anti-money laundering efforts. He noted that Tether's USDT and Circle's USDC dominate the market, making up 85% to 98% of the supply, and emphasized the need for coordinated regulatory frameworks to address these challenges."
"De Cos pointed out that while stablecoin transaction volumes reached approximately $35 trillion in 2025, their real-economy use was limited, with payment-related flows estimated at only $390 billion. This disparity underscores the need for technological solutions and regulatory advancements to ensure financial integrity."
BIS General Manager Pablo Hernandez de Cos emphasized the importance of global coordination on stablecoin regulation to mitigate financial stability risks. The stablecoin market, valued at approximately $320 billion, poses significant risks related to anti-money laundering and financial integrity. Tether's USDT and Circle's USDC dominate the market, accounting for 85% to 98% of supply. Despite high transaction volumes, real-economy use remains limited. De Cos advocates for refining regulatory frameworks, using Project Agora as a model for integrating tokenization by 2026.
Read at news.bitcoin.com
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