Hong Kong’s trial granting Chinese nationals access to stablecoins signals a pragmatic shift in digital finance, framing stable assets as an evolution of money infrastructure rather than a disruptive revolution.
From Tether’s entrenched dominance to Trump-backed USD1’s political clout, 2025’s seven fastest-moving stablecoins are reshaping liquidity, regulation battles, and the future of digital dollars.
Bank of England proposes a £20,000 cap on retail stablecoin holdings, saying it will protect consumers. Crypto firms warn the narrow exemptions could stifle innovation and shrink the UK market.