IMF Advocates Global Coordination on Stablecoin Regulation Amid Rapid Growth
The International Monetary Fund has issued a stark warning about the unchecked expansion of stablecoins, urging international cooperation to mitigate systemic risks. Tether's USDT and Circle's USDC now command a $260 billion combined market cap—triple their 2023 valuation—while processing $23 trillion in annual transactions.
Asia now leads North America in stablecoin adoption, reflecting the assets' growing role in cross-border payments. Remittance costs could plummet from current 20% fees as blockchain rails streamline settlement. The technology may also bank the unbanked, though the IMF cautions against fragmented oversight in this trillion-dollar shadow payments system.