Despite Stablecoin Boom, PayPal’s PYUSD and SocGen’s EURCV Struggle to Gain Traction

Description

While the fiat-backed stablecoin market surged over 76% from 2024 to 2025, adding more than $97 billion in value to reach a record $224.9 billion, not all entrants participated equally in the rally. The overwhelming majority of growth came from USDT and USDC, which together account for 93.5% of the circulating supply. USDtb by Ethena and USD0 by Usual are also making strong debuts. The same cannot be said for traditional finance-backed stablecoins. TradFi Misses the Mark According to the latest ...