Stablecoins are gaining adoption as firms feel more comfortable with a legal landscape that is increasingly accommodating to crypto.
Increasing institutional interest and moves toward legal frameworks for stablecoins have seen the space grow, with five major projects slated to expand the market in the near future.
In the EU, the Markets in Crypto-Assets (MiCA) regulatory package is in full force and has given stablecoin issuers clear guidelines by which they can enter European markets. In the US, the STABLE Act and the GENIUS Act, which would provide rules for stablecoins, are making their way through Congress.
As a result, major payments firms like Mastercard and Visa are stepping up support for stablecoin systems, and new coins have appeared, boosting the overall market capitalization of the stablecoin market.
