Stablecoins Threaten to Disrupt U.S. Bank Deposits and Payments, Morningstar DBRS Warns
Stablecoins have quickly grow to be a central pillar of the digital asset economic system, now exceeding a mixed market capitalization of $230 billion as of mid-2025, in keeping with Morningstar DBRS. The market is led by Tether (USDT) and Circle (USDC), with different gamers together with USDe, DAI, and FDUSD (see Exhibit 1). This…
