The market for stablecoins is showing growth amidst macroeconomic uncertainties, driven largely by Tether's USDt and USDC, which dominate with over 98% of supply. The stablecoin market cap has reached $226 billion, driven by demand from emerging markets, where countries like Brazil see 90% of crypto transactions conducted in stablecoins. This growth comes against a backdrop of inflationary pressures in the U.S. and shifting dynamics in the global financial system, including moves by Asian nations to reduce U.S. dollar reliance. Stablecoins have facilitated the rise of decentralized banks—or deobanks—that use these digital currencies to enhance accessibility and transparency in financial services. Unlike traditional banks, deobanks offer non-custodial accounts, enabling users to maintain control over their funds. As stablecoins and deobanks continue to integrate, they are expected to transform financial transactions and promote economic growth, particularly in regions experiencing currency instability.

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