The total market capitalization of stablecoins surpassed $322 billion, reaching an all-time high, with this figure exceeding the foreign exchange reserves of 95 countries worldwide, CoinDesk reported. The media explained, "The amount of stablecoins held by users outside the traditional banking system has grown larger than the foreign exchange reserves of 95 countries. This includes developed nations like the UK and Canada, as well as oil-producing countries like the United Arab Emirates (UAE). This is an indicator of how quickly capital is moving onto digital financial rails."
