Reserves and Transparency
- Estimated USD stablecoin issuers held about $155 billion in T-bills by the end of October 2025. This represents about 2.5% of the total outstanding marketable U.S. T-bills, well below U.S. money market funds 33% but close to the 6.8% held by foreign officials.
- USD stablecoin issuers’ net T-bill purchases will likely be $50 billion to $55 billion at end-2025, up from an estimated $36 billion in 2024.
- One leading issuer reported reserves of $149.28 billion versus liabilities of $143.68 billion in Q1 2025, a 100% reserve ratio with roughly $5.6 billion excess.
- A research paper found that one stablecoin issuer’s holdings of U.S. Treasury bills ($127 billion) represented about 1.6% of all outstanding U.S. Treasuries.
- As of 2025, between 60-75% of major stablecoin issuers publish real-time or near-real-time proof-of-reserves dashboards, a 25% increase from 2024.
- Roughly 71% of leading stablecoins issued proof-of-reserves attestations at least quarterly during 2024-2025, up from 52% in 2023.
- For USDT (Tether), as of mid-2025, ~66% is backed by Treasuries, ~10% overnight repos, ~18.5% “other” assets (crypto, precious metals, etc.).
- Transparent issuers like Circle (USDC) earned $658 million in reserve income in Q2 2025, up 53% year-over-year, boosting institutional trust.
- U.S. Treasury Bonds make up the largest portion of Tether’s reserves, accounting for 79.7% of the total backing.
- USDC continues to publish monthly attestation reports, with each showing 100% backing in cash and short-term U.S. Treasuries.
- USDT, on the other hand, releases quarterly assurance reports conducted by BDO Italia, with its latest showing 84.3% reserves in liquid assets.
- Circle’s transparency dashboard saw over 5 million unique visits in the first half of 2025, a 17% increase from the prior year.
- USDC reserves total $76.1 billion as of November 20, 2025, fully backing the circulating supply.
- 87% of USDC reserves held in Circle Reserve Fund as of September 30, 2025.
- Comparison of reserve attestations in February 2025 shows reserve assets of $55.01 billion backing a circulating supply of approximately 54.95 billion, suggesting minimal excess issuance beyond backing.
Peg Stability
- Throughout 2025, USD Coin (USDC) has largely maintained its dollar peg, with the 2025 first-quarter data reporting a trading range between $0.9994 and $1.0006.
- In March 2025, amid heightened market volatility, USDC briefly dipped to $0.9987, but it recovered within roughly 11 minutes, underscoring resilience under stress.
- Daily historical data from late 2025 shows USDC price consistently hovering around $1.0000, with minor daily fluctuations within a few basis points.
- Over 99.98% of USDC transactions in Q1 2025 cleared within 0.25% of its $1 peg.
- Since 2020, USDC has recorded fewer than 10 sustained peg breaks, none exceeding 1.2%.
- In volatile periods like the March 2025 bond sell-off, USDC maintained peg integrity across all major DEXs, while USDT temporarily dropped to $0.982 on two platforms.
MORE STABLECOIN STATISTICS:
Transaction Volume: https://airdropbee.com/stablecoin-statistics-transaction-volume/
Usage and Impacts: https://airdropbee.com/stablecoin-statistics-usage-and-impacts/
Marketcap and Supply: https://airdropbee.com/stablecoin-statistics-market-cap-and-supply/
Regulation and Adoption: https://airdropbee.com/stablecoin-statistics-regulation-and-adoption/
Data Sources
- https://am.jpmorgan.com/us/en/asset-management/adv/insights/market-insights/market-updates/on-the-minds-of-investors/what-is-a-stablecoin/
- https://coinlaw.io/stablecoin-statistics/
- https://akawelle.com/p/stablecoins-explained-the-bridge-to-traditional-finance/
- https://www.cointribune.com/en/stablecoin-market-surges-to-15-6-trillion-in-transfers-and-300b-supply-in-q3-2025/
- https://blog.amberdata.io/stablecoin-q1-2025-insights-on-trends-regulation
- https://coinwavenews.com/stablecoins-revolutionize-crypto-landscape/
- https://coinlaw.io/usd-coin-vs-tether-statistics/
- https://sqmagazine.co.uk/stablecoin-market-share-by-chain-statistics/
- https://trumpmemecoinnews.com/stablecoins-set-to-reshape-crypto-future/
- https://coinlaw.io/rlusd-statistics/
- https://sqmagazine.co.uk/usd-coin-statistics/
- https://sqmagazine.co.uk/cryptocurrency-payment-adoption-by-merchants-statistics/
- https://coinlaw.io/algorithmic-stablecoins-statistics/
- https://business.cornell.edu/article/2025/08/stablecoins/
- https://en.wikipedia.org/wiki/Stablecoin
- https://edition.cnn.com/2025/06/05/business/stablecoins-crypto-genius-act
- https://www.fgveurope.de/wp-content/uploads/2025/02/Research-Study-Emily-Ekshian.pdf
- https://www.21jingji.com/article/20250613/herald/9a0af5670b4e32780e3982e83bdcac80.html
- https://www.reuters.com/business/finance/stablecoins-market-cap-surges-record-high-us-senate-passes-bill-2025-06-18/
- https://fsspdvd.com/p/stablecoins-the-anchor-in-volatile-digital-seas/
- https://sqmagazine.co.uk/stablecoin-reserves-transparency-statistics/
- https://info.arkm.com/research/how-stablecoins-reached-a-300-billion-market-cap-in-2025
- https://www.riseworks.io/blog/stablecoin-statistics-from-2025
- https://www.bastion.com/blog/the-state-of-stablecoins-March-2025
- https://cryptonewsobserver.com/stablecoin-spotlight-main-street-banks-crypto-revolution/
- https://blockchainnewsdesk.com/stablecoins-transformative-force-shaping-crypto-future/
- https://kaanchnetworknews.com/see-how-stablecoins-are-revolutionizing-crypto-landscape/
- https://coinnewswatch.com/crypto-enthusiasts-embrace-stablecoins-betting-on-mainstream-dominance/
- https://voice.lapaas.com/stablecoins-market-cap-300-billion-2025/
- https://coinlaw.io/usdt-staking-statistics/
- https://treasurup.com/stablecoins-for-banks-strategic-playbook-2025/
- https://www.hsbc.com.hk/wealth/insights/learn-to-invest/start-investing/stablecoins-in-a-nutshell/
- https://www.chainalysis.com/blog/2025-crypto-crime-report-introduction/
- https://www.bis.org/publ/bisbull108.pdf
- https://www.investopedia.com/terms/s/stablecoin.asp
- https://coinlaw.io/stablecoin-market-share-by-chain-statistics/
- https://cryptoprocessing.com/insights/usdc-vs-usdt
- https://goldandcryptoinvestment.com/battle-for-stablecoin-dominance-regulators-dethrone-tether/
- https://dexcryptodaily.com/surging-stablecoins-financial-giants-wall-street/
- https://cryptonewstribune.com/stablecoins-upending-crypto-landscape/
- https://www.mckinsey.com/industries/financial-services/our-insights/the-stable-door-opens-how-tokenized-cash-enables-next-gen-payments
- https://web.archive.org/web/20250327091720/https://ffnews.com/newsarticle/cryptocurrency/uae-stablecoin-usage-up-55-yoy-as-new-regulations-drive-market-momentum/
- https://www.chainalysis.com/blog/2024-global-crypto-adoption-index/
- https://www.trmlabs.com/reports-and-whitepapers/global-crypto-policy-review-outlook-2025-26
- https://www.spglobal.com/ratings/en/regulatory/article/stablecoins-financial-stability-and-treasuries-whats-next-for-money-and-safe-assets-s101659822
