Stablecoin Market Nears $300B as Platforms Move Beyond Trading: Artemis
The stablecoin market has expanded rapidly over the past year, with total supply rising 72% to nearly $300 billion, according to Artemis. Growth has been driven by Ethereum and Solana, while the launch of Plasma added over $6 billion in its first week—a record for a new chain debut.
Tether’s USDT and Circle’s USDC remain dominant, together holding more than 85% of the market, though competition from emerging issuers is rising. Beyond trading, stablecoins are increasingly used for broader financial applications. For example, USD AI allows deposits to fund GPU loans for AI companies, converting holdings into yield-generating instruments.
Stablecoins are also taking on banking-like roles. Squads now manages over $2 billion in assets, while RAIN’s Series B supports card-linked spending approaching $1 billion. Exchanges such as Binance, OKX, and Coinbase are offering payment rails, debit cards, and savings tools anchored in stablecoins, functioning increasingly like neo-banks.
Artemis frames these developments as a structural shift: stablecoins are evolving from trading instruments into a financial layer that mirrors core banking functions.
