Stablecoins face a growth test as rising bank deposit yields make traditional savings more attractive, slowing market capitalization expansion. According to a study by the Bank for International Settlements, a one basis point increase in bank interest rates reduces stablecoin market cap growth by approximately 3% over ten weeks. USDC shows greater sensitivity with a 4.8 percentage point decline compared to USDT’s 1.9-point reduction, reflecting its closer ties to U.S. users and institutions. Visa’s annualized stablecoin settlement volume has reached $20 billion, a 15-fold increase from the previous year, with cross-border payouts available in over 180 countries. Total stablecoin capitalization stands at over $300 billion, with USDC circulating supply at $72.6 billion.
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