Stablecoins Hit Record $322B as Banks Launch $4T Tokenized…

The global stablecoin market has reached a record $322 billion, cementing digital dollars as one of crypto's most commercially viable products. Demand is being driven by real-time settlement needs, cross-border remittances, and dollar access on blockchain rails — with Western Union's recent USDPT launch on Solana via Anchorage Digital Bank illustrating how legacy payments giants are now treating stablecoins as core infrastructure rather than speculative instruments.

Yet the growth is triggering a full-scale defensive response from traditional banking. While USDT and USDC maintain an 80%-plus duopoly of the $322B market, Wall Street has quietly built a parallel system: tokenized deposit networks that McKinsey estimates will process over $4 trillion in annual volume in 2025, dwarfing stablecoin payment flows of roughly $400 billion.