BIS Chief Warns of Stablecoin Market Risks
- The global stablecoin market is valued at approximately $320 billion as of April 2026.
- Tether’s USDT and Circle’s USDC account for about 85% to 98% of the stablecoin supply, both pegged to the U.S. dollar.
- Stablecoins are used in transactions worth around $35 trillion, but real-economy use remains limited at $390 billion.
- BIS General Manager Pablo Hernández de Cos highlights financial integrity concerns due to lack of KYC checks on permissionless blockchains.
- De Cos warns that stablecoins could impact monetary policy by functioning as a parallel store of value in emerging markets.
Pablo Hernández de Cos from BIS emphasizes the need for regulatory frameworks to address risks associated with the growing stablecoin market, which could lead to financial fragmentation without international cooperation.
The BIS official’s remarks underline the importance of refining regulations to manage the $320 billion stablecoin market effectively, ensuring financial stability and integrity amid its rapid growth and widespread use. ( Source )
