Analysis of US dollar stablecoin prospects

US dollar stablecoins (such as USDT and USDC) are crypto assets pegged to the value of the US dollar, primarily used for value storage, cross-border payments, and DeFi (decentralized finance) applications. As of December 2025, US dollar stablecoins dominate the global stablecoin market, accounting for over 90% of the total market capitalization. Non-US dollar stablecoins are growing but still remain niche. According to data from the International Monetary Fund (IMF), the trading volume and market capitalization of US dollar stablecoins continue to expand, reflecting their core position in the digital economy.

Market growth and forecast

• Current scale: By mid-2025, the total market capitalization of stablecoins has reached approximately $230 billion, with the largest share being US dollar stablecoins. The European Central Bank (ECB) report shows that the market capitalization of stablecoins has reached new highs, growing over 50% in the first half of 2025. TRM Labs analysis indicates that in August 2025, the annual trading volume of stablecoins reached an all-time high, growing by 83% compared to July 2024, mainly due to the surge in cross-border payments and derivatives trading.

• Future Outlook: J.P. Morgan's global research predicts that the stablecoin market will reach $500-750 billion in the coming years. Amundi's research is more optimistic, anticipating a market value potentially exceeding $2.4 trillion by 2028, and even reaching $4.8 trillion. McKinsey emphasizes that 2025 will be a turning point for stablecoin payment infrastructure, driving significant changes in the global payments industry, especially in emerging markets.

• Driving Factors:

◦ Payment Innovation: Stablecoins are replacing traditional SWIFT systems for instant, low-cost cross-border transfers. Visa's pilot project shows that dollar stablecoins can be paid directly to global creators and gig workers, improving access to funds.

◦ DeFi and Institutional Adoption: CryptoQuant data shows that since 2025, USDT holdings on derivatives exchanges have increased from $40 billion to higher levels. Morgan Stanley points out that stablecoins are modernizing financial infrastructure, helping non-dollar economies hold 'digital dollar accounts.'

◦ Regulatory Favor: Despite scrutiny, stablecoin regulations in the U.S. and EU are becoming clearer in 2025 (e.g., EU MiCA framework), which will attract more institutional funds.

Overall outlook is optimistic: Stablecoins are transforming from crypto trading tools to mainstream payment media, expected to grow at a compound annual growth rate (CAGR) of over 30% from 2026 to 2028. However, geopolitical risks (such as the decline of dollar hegemony) and competition (such as central bank digital currencies CBDCs) may introduce uncertainty.

Do ordinary non-dollar users have investment opportunities?

Yes, ordinary non-dollar users (referring to non-U.S. residents using local currencies like RMB, euros, or emerging market currencies) have significant investment opportunities. Dollar stablecoins are essentially 'digital dollars' providing hedging tools for regions with high inflation or currency instability. According to Fintech Food analysis, stablecoins offer a low-cost global investment channel in areas with poor dollar flow. S&P Global Ratings notes that stablecoins are expanding into cross-border payments, helping international users avoid foreign exchange fluctuations.

Major Opportunities

• Value Storage and Hedging: Holding USDC/USDT can maintain purchasing power when local currencies depreciate (e.g., in Latin America or Africa's high-inflation countries). A Gemini report shows that stablecoins' low volatility (<1%) far exceeds that of assets like Bitcoin.

• Yield Generation: Deposit stablecoins in DeFi platforms (like Aave, Compound) to earn an annual percentage yield (APY), averaging 4-8% in 2025, higher than traditional bank deposits. InCred Global Wealth suggests that indirect investment in the stablecoin ecosystem (like related tokens or ETFs) can amplify returns.

• Cross-Border Remittances and Payments: BVNK's guide shows that using USDT/USDC enables 24/7 instant transfers, with fees only 0.1-1%, far lower than banks' 3-7%. Paysaxas emphasizes this is particularly beneficial for international trade businesses.

• Liquidity and Convenience: Kraken points out that USDC's high liquidity allows for quick exchanges to local currencies or crypto assets. Non-U.S. users can access via global exchanges without needing a U.S. bank account.

These opportunities are especially suitable for users in emerging markets: McKinsey data shows that the adoption rate of stablecoins in non-U.S. regions is growing the fastest by 2025, and a Bain report states that several multinational companies have expanded their stablecoin holdings globally.

How to invest in dollar stablecoins

The investment threshold is low (starting from $100), but attention must be paid to local regulations (for example, users in China must use VPNs to access international platforms). Here are practical steps for ordinary non-dollar users:

1 Choose a Platform:

◦ Exchanges: Use Binance, OKX, or Coinbase (supporting multi-currency deposits). International users can purchase USDT/USDC via credit cards, bank transfers, or P2P. Prioritize USDC for its higher transparency (Circle audits reserves monthly).

◦ Wallet: Download Trust Wallet or MetaMask, supporting multi-chain storage of stablecoins.

2 Purchase Process:

◦ Register an account and complete KYC (identity verification, usually requires a passport).

◦ Exchange USDT/USDC using local currency (e.g., via Alipay/WeChat P2P). Exchange rate is close to 1:1 to the dollar.

◦ Transfer to wallet for holding, or deposit directly into DeFi protocols for interest.

3 Investment Strategies:

◦ Conservative: Simply hold as emergency funds.

◦ Yield Type: Provide liquidity on Uniswap or PancakeSwap, with an annualized return of 5-10%.

◦ Diversify: Combine USDT (high liquidity) and USDC (strong compliance). Slash.com recommends that enterprise users choose USDC to avoid regulatory risks.

◦ Exit: Redeem for local currency at any time, with taxes depending on the country (e.g., EU capital gains tax).

Tool Recommendations: Use CoinMarketCap to track prices, Dune Analytics to view on-chain data.

Risks and Precautions

Despite the significant benefits, investment requires caution:

• Benefits: Price stability (decoupling events are rare, no major cases in 2025), global 24/7 access, transparent blockchain audits.

• Risks: Regulatory tightening (e.g., potential U.S. bans affecting global liquidity); centralized risks (USDT reserve controversies); hacking (choose cold wallets). CoinLedger warns that USDT is less safe than USDC and recommends diversifying holdings.

Overall, dollar stablecoins are a 'safe haven' in the crypto space for 2025, allowing non-dollar users to participate with small amounts, but it is advisable to consult local financial advisors and only invest idle funds.