After 260 billion dollars, Stablecoins became too big to ignore it star-news.press/wp

What happens when $ 260 billion in Stablecoins begins to move through banks, buy a treasury, and exceed the completely traditional financial infrastructure?

A federal rules book appears for Stablecoins

The idea of the digital dollar, which was particularly released, was working alongside the traditional banking system. This changed in July 2025 when President Trump signed the law of the genius on the law, creating the first federal framework for Stablecoins in the United States

The genius law, which has the title of direction and creation of the national innovation of US Stablecoins, creates a legal estimate of Stablecoins as digital payment tools.

It is not dealt with as securities or banking deposits. Instead, they are classified as digital tools designed to move money with the same level of reliability and trust as existing systems.

The draft law cleared the Senate in mid -June with wide support and passed the house in July. The support of the strong two parties reflects a common point of view that the infrastructure for payment in the United States needs to grow to meet the demands of the digital economy.

Under the new law, the dollar -backed exporters are allowed to issue a dollar -backed Stablecooins. These exporters can include banks, credit federations, organized -subject companies and non -bank entities that carry federal covenants.

Each stablecoin should be supported alone in US dollars or short -term cabinet bills. Exporters must keep reserves in separate accounts, allow third -party audits, and publish monthly reports for public review.

Control responsibilities are determined based on the size of Stablecoin in trading. Projects exceeding $ 10 billion decreases under the supervision of national agencies such as the Currency Observer Office, Federal Reserve and FDIC.

The smaller sources remain under the organization of the state level until they grow outside the threshold.

The legislation clearly determines the qualified types of stablecoins for legal use. The algorithm stablecoins is excluded as payment tools, and exporters are prevented from providing the return or interest on recovered symbols.

These requirements aim to eliminate unstable models that caused previous failure, including the Terrausd collapse in 2022.

Analysts expect the new rules to affect how people and institutions use digital funds. Standard rented projects that the Stablecoin market, which is now estimated at $ 260 billion, can It arrives 2 trillion dollars by 2028.

Legal clarity may encourage banks and companies to adopt digital dollars, enhance international confidence in US -backed funds, and perhaps increased demand for treasury assets.

The new frame may also open the platforms door such as Circle and Coinbase to follow the banks ’covenants or access the Federal Federal Reserve services, both of which were difficult under previous rules.

Wall Street and retail giants

The regulations have prompted the most important of the largest financial institutions and companies in the world to pay more close attention to Stablecoins.

JPMorgan Chase, under the leadership of Jamie Dimon, announced in July 2025 that it is experimenting with a new Blockchain product called JPMorgan Deposit Token, or JPMD.

Unlike JPM COIN, which works on a private network and already facilitates about one billion dollars in daily transactions, JPMD is designed to run on General Blockchain. The new symbol is placed as a bridge between traditional banking systems and Blockchain bars.

Although Dimon has long expressed doubts about encryption, he stressed that the bank intends to deal with Stablecoins to better understand technology and evaluate its capabilities.

Citigroup also expands its efforts in space. CEO Jane Fraser stated that the bank is studying multiple models, including reserve management structures, issuing its own solutions, and nursery solutions for digital assets.

According to the main American banks, including Bank of America, Wales Fargo and Goldman Sachs, it is in a common infrastructure that allows them to support Stablecoin services in a similar way to the immediate payment network of Zelle.

The large retail companies also joined the direction as well. Amazon, Ali Baba and Walmart explore the ability to launch a dollar -backed Stablecooins, in the first place to reduce the costs of payment processing.

In 2024, American merchants paid more than $ 187 billion as an exchange fees. Stablecoins can reduce these costs by bypassing traditional card networks and offering faster settlement times, which are especially useful for large size retailers.

Reports from financial media platforms indicate that Stablecoins may gain more traction in areas such as border payments, supply chain financing, and corporate exchange.

While the use of Stablecoins for daily retail spending is still in the early stages, institutional demand is already a rise.

Stablecoins is deeply integrated into the debts of the United States

The Stablecoin market is currently about 263 billion dollars, which reflects more than 50 times over the past five years.

The growth was largely driven by demand for low -mobility and stronger communications for the prevailing financial systems.

Between 80 % and 90 % of Stablecoin reserves are now being held in short -term American treasury tools. This range is translated into more than 200 billion dollars from exposure to the treasury, with the rope alone Closing To $ 120 billion. As a result, Stablecoin exporters became one of the largest non -governmental holders of American public debt.

Expectations from analysts in the Morgan Stanley indicate that the Stablecoin market can reach $ 750 billion by 2026. The market of this size may actively constitute the dynamics of the treasury market more clearly and introduce new variables in politics discussions.

US officials, including Treasury Secretary Scott Payette, have noticed that Stablecoin’s activity helped the treasury to manage financing more flexible.

The constant presence of the Stablecoin buyer has compressed approximately 14 to 24 basis points on short -term government debt, effectively reduces borrowing costs.

Meanwhile, the user’s request is still strong. Stablecoins provides a predictive value, a rapid settlement, programming functions, and cross -border benefit at a relatively low cost.

Daily transactions are now regularly reaching tens of billions of dollars. Sometimes, Stablecoin productivity exceeded the PayPal group and approached the size of the visa and MasterCard.

Good money or shadow risks?

The integration of Stablecoins into financial systems is still accelerating, but the basic questions about their safety and structure are still unlawful.

The bank stated in international settlements that Stablecoins currently does not meet the main criteria for obtaining sound funds. Fears focus on three specific areas: vein, flexibility and integrity.

The melody indicates the currency’s ability to serve all purposes evenly. Stablecoins often lacks this flexibility, as it cannot be used smoothly in all sectors in the same way as national currencies.

One of the central concerns includes the relationship between the growth of Stablecoin and the US Treasury Market. BIS data Suggest Every increase of $ 3.5 billion in Stablecoin’s release may reduce the treasury yield by up to 5 basis points.

While such effects can help reduce borrowing costs in the short term, the opposite scenario during the recovery wide can serve volatility.

Some estimates indicate that it can eventually attract up to $ 6.6 trillion of traditional banking deposits. If such a result is offered, the capital available to lenders can shrink, with consequences for credit availability throughout the economy.

Historical examples show the fragility of this structure. In early March 2023, the US dollar (USDC) lost the connection of the dollar after its source revealed, which will be Kickl, that the part of its reserves had been held at Silicon Valley, which just failed.

The advertisement sparked more than $ 4 billion of recovery within days, which prompted the code price to $ 0.92 before recovering it.

Another field of scrutiny related to compliance and enforcement. Stablecoins supports raging operations, across the border, which can make it difficult to carry out anti -money laundering controls.

The lack of central bank guarantees or clearly defined legal protection adds to the uncertainty for users, especially during the periods of financial tension.

Several organizational bodies have identified primary frameworks to oversee Stablecoin. This includes the Financial Stability Council, BIS and Central Banks such as the Bank of England.

Most of the authorities support the organization under strict supervision, but opposition to allowing the numbers to replace sovereign currencies or compete directly with the digital currencies of the Central Bank.

Judicial authorities respond at different speeds. Hong Kong has taken early steps towards official licensing and supervision, while others remain in different stages of consultation and review.

The long -term role of Stablecoins depends on whether the ecological system can expand responsibly. Transparency in reserves, regular audits, and coordinated organization will be necessary in proving credibility and safety.

Without safety guards, stablecoins may remain specialized financial tools. With them, they can become an essential component of digital financing around the world.