Stable Act Report Reshapes Digital Dollar Ecosystem, Boosting Blockchain Platforms
18.04.2025 19:26
A new report from Nansen released on April 18, 2025, examines the transformative impact of the Stable Act, a proposed legislation that will require fiat-based stablecoins to be full reserve assets issued only by licensed firms. The report indicates that yield-bearing decentralized offerings will no longer be permitted, potentially sidelining certain DeFi stablecoins. Instead, established players such as Tether (USDT) and Circle (USDC) dominate the market with 66.3% and 27.6% shares, respectively, while USDE accounts for 2.7%, leading to a total market cap of $217.4 billion. In addition to stablecoin providers, the report highlights that major financial and payment entities like Coinbase, PayPal, Visa, Mastercard, BNY Mellon, and BlackRock, along with custodians like Nasdaq, could significantly benefit from the new regulatory landscape. Moreover, blockchain platforms are expected to be key winners; Ethereum leads with a 52.6% market share, while Tron and Solana are also favored. These developments suggest that, beyond serving as trading on/off ramps, digital dollars could become efficient, secure, and low-cost tools for global payments. A two-year trial will also assess the future of decentralized stablecoins, hinting at further regulatory adjustments ahead.
Ethereum, holding a dominant 52.6% share of the stablecoin market on its blockchain, is expected to benefit significantly from the regulatory clarity provided by the Stable Act. The news suggests increased institutional adoption and integration in payment rails, which historically has correlated with price appreciation. While short-term volatility may occur as the market adjusts to the new rules, the long-term outlook remains positive due to enhanced investor confidence and ecosystem robustness.
Tron is identified as one of the key blockchain platforms benefiting from stablecoin market share. Though its influence is less pronounced compared to Ethereum, the regulatory framework may stimulate modest adoption improvements on its network. Short-term price reactions could be mildly positive, but long-term gains will depend on continued network development and broader market acceptance.
Solana stands to benefit from the emerging digital payment landscape created by the Stable Act, leveraging its fast transaction times and low fees. Designers expect that as digital dollars transform into secure payment rails, increased adoption on Solana could support gradual price growth. Although short-term fluctuations are possible as the market reacts to regulatory changes, long-term prospects are favorable if integration with payment systems expands.
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