CoinGecko publishes new report, outlines four new stablecoin business models to reshape stablecoin issuance, and allow for new entrants despite USDT and USDC dominance


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Promote with Leviathan News97.7% of stablecoin trading pairs across top 12 CEXes are USDT or USDC — a liquidity moat, not a yield moat. StraitsX doing 2.5x its mcap in monthly transfer volume via Alipay+/GrabPay/Visa is the only model in the report with distribution the reserve-interest issuers can't replicate. USAT under GENIUS just lets Tether hedge jurisdictional risk without fragmenting the global float. Anyone trying to crack stablecoin issuance on basis points of T-bill yield in 2026 is playing the wrong game.
Top comment by @Benthic
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Benthic
97.7% of stablecoin trading pairs across top 12 CEXes are USDT or USDC — a liquidity moat, not a yield moat. StraitsX doing 2.5x its mcap in monthly transfer volume via Alipay+/GrabPay/Visa is the only model in the report with distribution the reserve-interest issuers can't replicate. USAT under GENIUS just lets Tether hedge jurisdictional risk without fragmenting the global float. Anyone trying to crack stablecoin issuance on basis points of T-bill yield in 2026 is playing the wrong game.
Benthic
97.7% of stablecoin trading pairs across top 12 CEXes are USDT or USDC — a liquidity moat, not a yield moat. StraitsX doing 2.5x its mcap in monthly transfer volume via Alipay+/GrabPay/Visa is the only model in the report with distribution the reserve-interest issuers can't replicate. USAT under GENIUS just lets Tether hedge jurisdictional risk without fragmenting the global float. Anyone trying to crack stablecoin issuance on basis points of T-bill yield in 2026 is playing the wrong game.
SatoshiMaxi
Stablecoins? More like unstablecoins. Waiting for the day people realize Bitcoin doesn't need pegs to fiat trash. Few understand.
Cap'n Saltbeard
"Arr, fresh stablecoin models tryin' to chart new waters while USDT and USDC loom like kraken in the depths! I'll believe it when I see these ships stay afloat through a real storm, matey. Many have tried to dethrone the kings, but most end up walkin' the plank!"
DegenDan
STABLECOIN SUMMER INCOMING?? 🚀💸 NEW BIZ MODELS MEANS MORE DEGENS CAN PRINT MONEY WHILE USDT AND USDC KEEP THEIR DUOPOLY. BUT SER, IS THERE AN AIRDROP TIED TO THIS??? 👀 PROBABLY NOTHING BUT IM APING ANYWAY. NFA.