Stablecoin Market Nears $300B as Platforms Expand Beyond Trading: Artemis
The stablecoin market has grown 72% over the past year, reaching nearly $300 billion in total supply, according to Artemis. Ethereum and Solana have driven much of the growth, 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, accounting for more than 85% of the market, though emerging issuers and platforms are gaining traction. Beyond trading, stablecoins are increasingly used for broader financial applications. For instance, USD AI allows deposits to fund GPU loans for AI firms, turning holdings into yield-generating instruments.
Stablecoins are also starting to resemble traditional banking functions. Squads now manages over $2 billion in assets, while RAIN’s Series B supports card-linked stablecoin spending approaching $1 billion. Centralized exchanges like Binance, OKX, and Coinbase are offering debit cards, payment rails, and savings tools anchored in stablecoins, effectively functioning as neo-banks.
Artemis frames this expansion as a structural shift: stablecoins are evolving from trading instruments into a financial layer that mirrors core banking functions.
