A researcher and data analyst at CryptoSlate, the growth trend in stablecoin supply that began in Q4 2023 has continued into 2024, with the total supply of stablecoins in the cryptocurrency market increasing by about 3.5% over the past 30 days. The stablecoin supply ratio (SSR) has dropped from 4.13 in late October last year to the 0.74 range, indicating that stablecoins have more purchasing power to buy BTC. In contrast, the supply of Bitcoin is experiencing dynamic fluctuations due to the launch of spot Bitcoin ETFs, and wider institutional flows are increasing on-chain transaction volume.

Mitsubishi UFJ Trust and Banking, Progmat, Inc., STANDAGE Co., Ltd., and Ginco Co., Ltd. are considering using stablecoins for trade settlements. They plan to create the first use case in Japan for trade settlements using domestically produced stablecoins by 2024. The experiment will use STANDAGE's trade payment system and transfer stablecoins based on permissionless blockchain. Mitsubishi UFJ Trust and Banking will be responsible for the stablecoin trust business, while Ginco will provide the corporate wallet and participate in its joint development. The project aims to solve the payment problems in emerging country trade, increase trust through blockchain technology, and reduce transaction costs.

Matrixport stated on social media that the stablecoin industry is expected to experience significant growth and become a trillion-dollar industry by 2030. However, existing challenges such as reliance on centralization, cross-chain security, and transparency issues are still obstacles to its development. Innovative methods such as on-chain proof of reserves can provide true transparency and instant access to financial indicators.

According to Defillama data, as of January 29th, the total market value of stablecoins has reached 135.02 billion US dollars, an increase of 0.97% from last week. In addition, the circulation of USDT has exceeded 95.9 billion US dollars, accounting for 71.07% of the stablecoin market.

Morgan Stanley predicts that stablecoins pegged to the US dollar will support the currency amid concerns of de-dollarization. The financial institution highlights the challenges facing the USD due to the rise of digital currencies and the global efforts to promote de-dollarization. The report notes that stablecoins could have a profound impact on the financial sector and reshape how money is moved across borders, potentially reinforcing the US dollar as the dominant global currency. Morgan Stanley also suggests that stablecoins would not challenge the USD's dominance but could be a critical catalyst in significantly altering the landscape of global finance.

Hong Kong Stock Analysts Association has proposed nine suggestions for the Hong Kong "2024-2025 Budget", including: consolidating Hong Kong's position as an international financial center; developing family offices and a "new capital investor immigration plan"; adjusting the composition of foreign exchange fund investments to support the stock market; assisting China in developing a long-term bond market; broadening the tax base based on the principle of "user pays"; building Hong Kong into an international virtual asset management center; accelerating the development of spot Bitcoin ETFs; speeding up the launch of stablecoins; and proactively developing the "silver economy".

TrueUSD (TUSD) is a fully collateralized stablecoin that offers the security of real-world assets combined with the efficiency of blockchain technology. TUSD implements smart contracts for the minting and redemption processes, ensuring real-time onchain verification of the funds backing the coin. This process is reinforced by The Network Firm LLP, a U.S.-based auditing firm specializing in cryptocurrencies, as well as Chainlink's Proof of Reserve, which provides additional transparency and trust in the available reserves.

The stablecoin issuer Circle has secretly submitted an IPO application.

According to Defillama data, as of January 5th, the total market value of stablecoins reached $131.9 billion, an increase of 0.98% from the previous week. In addition, the circulation of USDT has exceeded $92.7 billion, with a stablecoin market share of 70.28%.

According to the latest data, the market value of the stablecoin USDT has surpassed $92.5 billion, reaching a new historical high of $92,606,749,494 at the time of writing, as reported by Jinse Finance.