Stablecoin Depegging, Financial Intermediary Balance Sheet Constraints, and Liquidity in the U.S. Traditional Money Market
By end-2025, the global stablecoin market grew from approximately $25 billion in 2020 to over $300 billion.
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By end-2025, the global stablecoin market grew from approximately $25 billion in 2020 to over $300 billion.
Advanced economies recorded lower vulnerability with a Financial Contagion Index (FCI) of 58 and a Risk Transmission Index (RTI) of 55.
Expanding access to Tether's arbitrage mechanism reduced the absolute size of peg deviations by approximately one half.